Equity And Efficiency
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Equity Efficiency And Social Choice
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Author : Donald Edward Campbell
language : en
Publisher: Oxford University Press, USA
Release Date : 1992
Equity Efficiency And Social Choice written by Donald Edward Campbell and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Art categories.
This book presents Professor Campbell's recent work on social choice in economic environments. It addresses the standard social choice questions in the framework of welfare economics; with emphasis on the allocation of public and private goods. But it goes beyond the standard issues to prove fundamental theorems on efficiency and equity in public policy analysis. Arrow's impossibility theorem discloses some elementary conditions under which the Pareto criterion implies that the social welfare function is insensitive to the preferences of all but a single individual. It is proved here that any degree of sensitivity to individual preferences implies that the social welfare function is independent of the preferences of all but one person even if efficiency is not required in any degree. In this and other ways, the absence of meaningful efficiency-equity trade-offs is demonstrated. The framework is a conventional allocation space with standard economic restrictions on the nature of individual preferences. Classical impossibility theorems, including Arrow's are proved en route to the main results. The book will be of interest to academic economists, especially those working in social choice theory and economic theory.
Equity And Efficiency In Economic Development
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Author : Donald J. Savoie
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 1992-10-16
Equity And Efficiency In Economic Development written by Donald J. Savoie and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-16 with Political Science categories.
The ideological foundations of the contributors range from personalized neo-Marxism, through "extreme centre" neo-Keynesianism, to hard-line neoclassical mathematical economics. Despite this diversity there is a surprising degree of consensus. No contributor advocates centralized planning and none expects a free market to cure all economic ills. Opinions vary as to how well the market actually works, but all agree that equity and efficiency are essential goals which most consider to be complementary rather than mutually exclusive. In the concluding chapter it is suggested that current economic problems are caused not so much by government intervention as by the nature of that intervention. The authors believe that the recent ideological convergence may lead to a new paradigm, a theory of the optimal blend of market and management that will be flexible enough to deal with the varying conditions of diverse societies, thus simplifying the task of creating a smooth-running global economy. The contributors are Irma Adelman, Mark Blaug, Kenneth Boulding, Irving Brecher, Albert Breton, John S. Chipman, André Gunder Frank, Martha Fuentes Frank, Niles Hansen, Murray C. Kemp, Robin Marris, Richard Musgrave, Walt Rostow, Donald J. Savoie, Nicholas Spulber, and Paul Streeten. Higgins himself contributes a chapter on basic concepts and collaborates with Donald Savoie on the final chapter.
Efficiency And Equity In Social Spending
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Author : Nancy Birdsall
language : en
Publisher: World Bank Publications
Release Date : 1990
Efficiency And Equity In Social Spending written by Nancy Birdsall and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Desarrollo social categories.
In most countries it is easy to identify reallocations of public spending for social programs that would improve efficiency and simultaneously improve the distribution of income and better serve the poor. The authors suggest why these reallocations are difficult but not impossible to bring about.
Equity And Efficiency Considerations Of Public Higher Education
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Author : Salvatore Barbaro
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-16
Equity And Efficiency Considerations Of Public Higher Education written by Salvatore Barbaro and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-16 with Business & Economics categories.
It has become part of the conventional wisdom in the economics of education that subsidies to higher education have a regressive distributional effect. Given that relatively more children from wealthier families enroll in higher education, many economist assume that these subsidies to higher education have an unwanted distributional impact. This volume presents new empirical evidence for the cross-sectional point of view and provides an analytical framework for the longitudinal perspective. The present volume also analyzes the equity and efficiency effects of widely-discussed funding reforms and proposes a voluntary graduate tax.
Reconciling Efficiency And Equity
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Author : Damien Gerard
language : en
Publisher: Cambridge University Press
Release Date : 2019-05-09
Reconciling Efficiency And Equity written by Damien Gerard and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-09 with Law categories.
Provides a new conceptualization of competition law as economic inequality and its interaction with efficiency become of central concern to policy and decision-makers.
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 And Equity In Welfare Economics
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Author : PierCarlo Nicola
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-10-16
Efficiency And Equity In Welfare Economics written by PierCarlo Nicola and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-16 with Business & Economics categories.
Increasing efficiency in generating national income and improving equity in its distribution among economic agents is at the forefront of priorities of most modern economies. This book presents a model which aims to maximize a symmetrical welfare function under certain constraints which consider both efficiency and equity, i.e. taxes and subsidies, implemented by a public authority. The model is numerically implemented and considers a set of economic agents with starting incomes that satisfy Pareto income law under various values of the alpha parameter. Also, the model implementations respect the social production function. Various experiments are presented which show how income inequality (measured by means of the Lorenz curve and, what I call, the Lorenz-Gini inequality index) and measures of poverty are sensibly reduced by redistributing national income without lowering efficiency in production. A case study, or application, of Italian personal income in 2008 is also presented.
For The Benefit Of All Fiscal Policies And Equity Efficiency Trade Offs In The Age Of Automation
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Author : Mr. Andrew Berg
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-16
For The Benefit Of All Fiscal Policies And Equity Efficiency Trade Offs In The Age Of Automation written by Mr. Andrew Berg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-16 with Business & Economics categories.
Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation.
Lessons From The Old Masters On Assessing Equity And Efficiency A Primer For Fiscal Policymakers
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Author : Vitor Gaspar
language : en
Publisher: International Monetary Fund
Release Date : 2017-10-03
Lessons From The Old Masters On Assessing Equity And Efficiency A Primer For Fiscal Policymakers written by Vitor Gaspar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-03 with Business & Economics categories.
How can a society’s well-being be measured to include not only average incomes but also their distribution? How can the effects of policies be assessed by considering both equity and efficiency? This primer outlines the seminal contributions of influential economists of the past, including Arthur Okun, who developed a simple method to elicit people’s preferences regarding redistribution, and Anthony Atkinson, who showed how equity and efficiency can be measured simultaneously and summarized in a single, intuitive index expressed in monetary units (such as dollars). These methods are applied to recent data to gauge how countries fare when both mean incomes and their distribution are considered together, and to a hypothetical tax-and-transfer scheme assessed through a general equilibrium model for household-level data.
Family Market And Community
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Author : Organisation for Economic Co-operation and Development
language : en
Publisher: Organisation for Economic Co-operation and Development
Release Date : 1997
Family Market And Community written by Organisation for Economic Co-operation and Development and has been published by Organisation for Economic Co-operation and Development this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Political Science categories.
Social policy is under pressure in OECD countries because of concerns about public finances and changing works and family patterns. Over recent decades, social protection systems have successfully provided individual and families in need with income support and access to services. But policies which worked well when they were first introduced, sometimes 50 years ago, may now be protecting the wrong people against the wrong risks. How can labor market and social exclusion be tackled? How can we help those with low skills to get jobs and generate incomes to meet the needs of their families? How can we broaden the sources of income for those who are retired and ensure that those requiring long-term care services receive the right package of care? This book examines new policy strategies intended to protect people against distress over the life cycle. These strategies need to be equitable while promoting economic efficiency.