Equality And Efficiency
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Equality And Efficiency Rev
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Author : Arthur M. Okun
language : en
Publisher: Brookings Institution Press
Release Date : 2015-04-30
Equality And Efficiency Rev written by Arthur M. Okun and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
Efficiency Equality And The Ownership Of Property Routledge Revivals
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Author : James E. Meade
language : en
Publisher: Routledge
Release Date : 2012
Efficiency Equality And The Ownership Of Property Routledge Revivals written by James E. Meade and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
First published in 1964, this is a study of the extreme inequalities in the ownership of property, in economies across the globe. Professor Meade examines in depth the economic, demographic and social factors which lead to such inequalities. He considers a wide range of remedial policies - educational development, reformed death duties and capital taxes, demographic policies, trade union action, the socialization of property, the development of a property-owning democracy, the expansion of the welfare state. The argument is expressed in precise analytical terms, but the main exposition is free of mathematics and technical jargon and is designed for the interested layman as well as the economist.
Equality And Efficiency
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Author : Arthur M. Okun
language : en
Publisher: Brookings Institution Press
Release Date : 2010-12-01
Equality And Efficiency written by Arthur M. Okun and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
Contemporary American society has the look of a split-level structure. Its political and social institutions distribute rights and privileges universally and proclaim the equality of all citizens. Yet economic institutions, with efficiency as their guiding principle, create disparities among citizens in living standards and material welfare. This mixture of equal rights and unequal economic status breeds tensions between the political principles of democracy and the economic principles of capitalism. Whenever the wealthy try for extra helpings of supposedly equal rights, and whenever the workings of the market deny anyone a minimum standard of living, "dollars transgress on rights"—in the author's phrase. In this revised and expanded version of the Godkin Lectures presented at the John F. Kennedy School at Harvard University in April 1974, Arthur M. Okun explores the conflicts that arise when society's desire to reduce inequality would impair economic efficiency, confronting policymakers with "the big tradeoff." Other economic systems have attempted to solve this problem; but the best of socialist experiments have achieved a greater degree of equality than our mixed capitalist democracy only at heavy costs in efficiency, and dictatorial governments have reached heights of efficiency only by rigidly repressing their citizenry. In contrast, our basic system emerges as a viable, if uneasy, compromise in which the market has its place and democratic institutions keep it in check. But within the existing system there are ways to gain more of one good thing at a lower cost in terms of the other. In Okun's view, society's concern for human dignity can be directed at reducing the economic deprivation that stains the record of American democracy—through progressive taxation, transfer payments, job programs, broadening equality of opportunity, eliminating racial and sexual discrimination, and lowering barriers to access to capital.
Efficiency Equality And Public Policy
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Author : Y. Ng
language : en
Publisher: Springer
Release Date : 2000-04-19
Efficiency Equality And Public Policy written by Y. Ng and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-04-19 with Business & Economics categories.
This book provides compelling arguments for the exclusive concern with efficiency ('a dollar is a dollar') in all specific areas of public economic policy, leaving the objective of equality to be achieved through the general tax/transfer system. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Relative-income and environmental disruption effects cause a bias in favour of private spending which is no longer conducive to happiness socially. Welfare can be increased more by higher public spending on research and environmental protection, including the perfection of the techniques of brain stimulation to increase happiness.
Thinking Like An Economist
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Author : Elizabeth Popp Berman
language : en
Publisher: Princeton University Press
Release Date : 2023-08-08
Thinking Like An Economist written by Elizabeth Popp Berman and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-08 with Business & Economics categories.
Thinking like an Economist -- The Economic Style and Its Antecedents -- How to Make Government Decisions -- How to Govern Markets -- The Economic Style and Social Policy -- The Economic Style and Market Governance -- The Economic Style and Social Regulation -- How the Economic Style Replaced the Democratic Left -- The Economic Style in the Age of Reagan -- Conclusion.
Employment With A Human Face
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Author : John W. Budd
language : en
Publisher: Cornell University Press
Release Date : 2004
Employment With A Human Face written by John W. Budd and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
John W. Budd contends that the turbulence of the current workplace and the importance of work for individuals and society make it vitally important that employment be given "a human face." Contradicting the traditional view of the employment relationship as a purely economic transaction, with business wanting efficiency and workers wanting income, Budd argues that equity and voice are equally important objectives. The traditional narrow focus on efficiency must be balanced with employees' entitlement to fair treatment (equity) and the opportunity to have meaningful input into decisions (voice), he says. Only through a greater respect for these human concerns can broadly shared prosperity, respect for human dignity, and equal appreciation for the competing human rights of property and labor be achieved. Budd proposes a fresh set of objectives for modern democracies--efficiency, equity, and voice--and supports this new triad with an intellectual framework for analyzing employment institutions and practices. In the process, he draws on scholarship from industrial relations, law, political science, moral philosophy, theology, psychology, sociology, and economics, and advances debates over free markets, globalization, human rights, and ethics. He applies his framework to important employment-related topics, such as workplace governance, the New Deal industrial relations system, comparative industrial relations, labor union strategies, and globalization. These analyses create a foundation for reforming employment practices, social norms, and public policies. In the book's final chapter, Budd advocates the creation of the field of human resources and industrial relations and explores the wider implications of this renewed conceptualization of industrial relations.
Legal Secrets
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Author : Kim Lane Scheppele
language : en
Publisher: University of Chicago Press
Release Date : 1988-11-15
Legal Secrets written by Kim Lane Scheppele and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-11-15 with Law categories.
Does the seller of a house have to tell the buyer that the water is turned off twelve hours a day? Does the buyer of a great quantity of tobacco have to inform the seller that the military blockade of the local port, which had depressed tobacco sales and lowered prices, is about to end? Courts say yes in the first case, no in the second. How can we understand the difference in judgments? And what does it say about whether the psychiatrist should disclose to his patient's girlfriend that the patient wants to kill her? Kim Lane Scheppele answers the question, Which secrets are legal secrets and what makes them so? She challenges the economic theory of law, which argues that judges decide cases in ways that maximize efficiency, and she shows that judges use equality as an important principle in their decisions. In the course of thinking about secrets, Scheppele also explores broader questions about judicial reasoning—how judges find meaning in legal texts and how they infuse every fact summary with the values of their legal culture. Finally, the specific insights about secrecy are shown to be consistent with a general moral theory of law that indicates what the content of law should be if the law is to be legitimate, a theory that sees legal justification as the opportunity to attract consent. This is more than a book about secrets. It is also a book about the limits of an economic view of law. Ultimately, it is a work in constructive legal theory, one that draws on moral philosophy, sociology, economics, and political theory to develop a new view of legal interpretation and legal morality.
Population Health Science
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Author : Katherine M. Keyes
language : en
Publisher: Oxford University Press
Release Date : 2016
Population Health Science written by Katherine M. Keyes and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Medical categories.
POPULATION HEALTH SCIENCE formalizes an emerging discipline at the crossroads of social and medical sciences, demography, and economics--an emerging approach to population studies that represents a seismic shift in how traditional health sciences measure and observe health events. Bringing together theories and methods from diverse fields, this text provides grounding in the factors that shape population health. The overall approach is one of consequentialist science: designing creative studies that identify causal factors in health with multidisciplinary rigor. Distilled into nine foundational principles, this book guides readers through population science studies that strategically incorporate: - macrosocial factors - multilevel, lifecourse, and systems theories - prevention science fundamentals - return on investment - equity and efficiency Harnessing the power of scientific inquiry and codifying the knowledge base for a burgeoning field, POPULATION HEALTH SCIENCE arms readers with tools to shift the curve of population health.
Economic Ideas You Should Forget
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Author : Bruno S. Frey
language : en
Publisher: Springer
Release Date : 2017-03-08
Economic Ideas You Should Forget written by Bruno S. Frey and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-08 with Business & Economics categories.
Reporting on cutting-edge advances in economics, this book presents a selection of commentaries that reveal the weaknesses of several core economics concepts. Economics is a vigorous and progressive science, which does not lose its force when particular parts of its theory are empirically invalidated; instead, they contribute to the accumulation of knowledge. By discussing problematic theoretical assumptions and drawing on the latest empirical research, the authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.” Many of these ideas remain prominent among politicians, economists and the general public. Yet, in the light of the financial crisis, they have lost both their relevance and supporting empirical evidence. This fascinating and thought-provoking collection of 71 short essays written by respected economists and social scientists from all over the world will appeal to anyone interested in scientific progress and the further development of economics.
Equality And Efficiency
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Author : Arthur M. Okun
language : en
Publisher: A Brookings Classic
Release Date : 2015
Equality And Efficiency written by Arthur M. Okun and has been published by A Brookings Classic this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
Foreword / Lawrence Summers -- Rights and dollars -- The case for the market -- Equality of income and opportunity -- Increasing equality in an efficient economy -- Further thoughts on equality and efficiency -- Notes -- Index.