
Published online:
23 January 2014
Published in print:
01 May 2013
Online ISBN:
9789888180349
Print ISBN:
9789888139446
Contents
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Understanding Economic Policy in a Transforming Economy Understanding Economic Policy in a Transforming Economy
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Rise of the Social Welfare State Rise of the Social Welfare State
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On the Need to Explain Its Policies On the Need to Explain Its Policies
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References References
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Chapter
2 Contradictions in the Policy Environment
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Published:May 2013
Cite
Richard Wong, Yue Chim, 'Contradictions in the Policy Environment', Diversity and Occasional Anarchy: On Deep Economic and Social Contradictions in Hong Kong (Hong Kong , 2013; online edn, Hong Kong Scholarship Online, 23 Jan. 2014), https://doi.org/10.5790/hongkong/9789888139446.003.0002, accessed 5 May 2025.
Abstract
All activities require decisions. Resources are finite but there is an array of demands that must be satisfied. Every decision incurs opportunity costs, and they comprise the options associated with social, health, education and environmental issues. They are entirely economic in nature as they are subject to the law of scarcity in economics. Thereby, myriads of non-business activities can be provided and allocated through the marketplace, yet many of them are arranged beyond the “small government, big market” framework in Hong Kong.
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