The Myth Of Social Cost
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The Myth Of Social Cost
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Author : Steven N. S. Cheung
language : en
Publisher: Hobart Papers (Paperback)
Release Date : 1978
The Myth Of Social Cost written by Steven N. S. Cheung and has been published by Hobart Papers (Paperback) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.
For over 50 years economists have argued that where private costs or benefits differ from social costs or benefits - in noise, smells, congestion, pollution of the environment - there is a 'clear case' for government intervention to correct the divergence. This argument has been used to justify almost endless intervention. However, the original analysts of social costs/benefits were led into error by failing to test their propositions against the evidence of real life. Painstaking empirical studies clearly demonstrate these errors. A divergence between private and social cost is no decisive justification for government action to correct it. The costs of intervention often outweigh the social benefits. Moreover, the alleged 'externalities' are merely uncontracted effects. Under private property rights, the use of contracts to transact what have been regarded as 'external' effects is far more common than has been commonly recognised.
The Myth Of Social Cost
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Author :
language : en
Publisher: Arcadia Press Ltd.
Release Date : 2002
The Myth Of Social Cost written by and has been published by Arcadia Press Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Externalities (Economics) categories.
The Myth Of Social Cost
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Author : Steven N. S. Cheung
language : en
Publisher:
Release Date : 1978
The Myth Of Social Cost written by Steven N. S. Cheung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with categories.
Social Cost
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-04-15
Social Cost written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-15 with Business & Economics categories.
What is Social Cost Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external costs. This might be applied to any number of economic problems: for example, social cost of carbon has been explored to better understand the costs of carbon emissions for proposed economic solutions such as a carbon tax. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Social cost Chapter 2: Microeconomics Chapter 3: Monopoly Chapter 4: Perfect competition Chapter 5: Deadweight loss Chapter 6: Free-rider problem Chapter 7: Externality Chapter 8: Market failure Chapter 9: Social credit Chapter 10: Profit maximization Chapter 11: Cost Chapter 12: Marginal cost Chapter 13: Pigouvian tax Chapter 14: Allocative efficiency Chapter 15: Marginal revenue Chapter 16: Shadow price Chapter 17: Market distortion Chapter 18: Profit (economics) Chapter 19: Spillover (economics) Chapter 20: Economics of science Chapter 21: Stock exchange (II) Answering the public top questions about social cost. (III) Real world examples for the usage of social cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Social Cost.
The Problem Of Social Cost
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Author : R. H. Coase
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2016-10-10
The Problem Of Social Cost written by R. H. Coase and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-10 with categories.
The Problem of Social Cost is an article dealing with economic problem of externalities. It draws from a number of English legal cases and statutes to illustrate Coase's belief that legal rules are only justified by reference to a cost-benefit analysis, and that nuisances that are often regarded as being the fault of one party are more symmetric conflicts between the interests of the two parties.
The Myth Of Scientific Public Policy
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Author : Robert Formaini
language : en
Publisher: HOEPLI EDITORE
Release Date : 1990
The Myth Of Scientific Public Policy written by Robert Formaini and has been published by HOEPLI EDITORE this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Political Science categories.
Should the methods of science determine the appropriate actions of government? Supporters of scientific public policy argue that these methods permit policymakers to devise good public policy while remaining neutral on troublesome ethical questions. Robert Formaini delivers a sustained critique of this notion in The Myth of Scientific Public Policy. Formaini's examination of risk assessment and cost-benefit analysisâthe two most popular methods now in existence to âscientificallyâ evaluate public policyâis as notable for its lucidity as it is for its breadth. He demonstrates that, due to these methods' inherent limitations, they are unequal to the feats that their advocates claim for them, and shows that their purported moral neutrality is actually negated by concealed, implicit values.
Success And Luck
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Author : Robert H. Frank
language : en
Publisher: Princeton University Press
Release Date : 2016-04-19
Success And Luck written by Robert H. Frank 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 2016-04-19 with Business & Economics categories.
From New York Times bestselling author and economics columnist Robert Frank, a compelling book that explains why the rich underestimate the importance of luck in their success, why that hurts everyone, and what we can do about it How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine. In Success and Luck, bestselling author and New York Times economics columnist Robert Frank explores the surprising implications of those findings to show why the rich underestimate the importance of luck in success—and why that hurts everyone, even the wealthy. Frank describes how, in a world increasingly dominated by winner-take-all markets, chance opportunities and trivial initial advantages often translate into much larger ones—and enormous income differences—over time; how false beliefs about luck persist, despite compelling evidence against them; and how myths about personal success and luck shape individual and political choices in harmful ways. But, Frank argues, we could decrease the inequality driven by sheer luck by adopting simple, unintrusive policies that would free up trillions of dollars each year—more than enough to fix our crumbling infrastructure, expand healthcare coverage, fight global warming, and reduce poverty, all without requiring painful sacrifices from anyone. If this sounds implausible, you'll be surprised to discover that the solution requires only a few, noncontroversial steps. Compellingly readable, Success and Luck shows how a more accurate understanding of the role of chance in life could lead to better, richer, and fairer economies and societies.
Social Costs Today
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Author : Paolo Ramazzotti
language : en
Publisher: Routledge
Release Date : 2012
Social Costs Today written by Paolo Ramazzotti 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.
This book deals with the current crises from a somewhat different the usual perspectives. It claims that causes and policy implications of these crises cannot be properly assessed by focusing on allocative efficiency or income growth alone; it requires a more general approach, based on social costs. It does not deal with social costs according to the Pigouvian or the Coasian traditions. It draws on the work of Original Institutional Economics (OIE) such as Thorstein Veblen, Karl William Kapp, and Karl Polanyi, on Post-Keynesians such as Hyman Minsky and, in general, on authors who have provided insights beyond the conventional wisdom of economic thought.
The Myth Of Chinese Capitalism
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Author : Dexter Roberts
language : en
Publisher: Macmillan + ORM
Release Date : 2020-03-10
The Myth Of Chinese Capitalism written by Dexter Roberts and has been published by Macmillan + ORM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-10 with Political Science categories.
The untold story of how restrictive policies are preventing China from becoming the world’s largest economy Dexter Roberts lived in Beijing for two decades working as a reporter on economics, business and politics for Bloomberg Businessweek. In The Myth of Chinese Capitalism, Roberts explores the reality behind today’s financially-ascendant China and pulls the curtain back on how the Chinese manufacturing machine is actually powered. He focuses on two places: the village of Binghuacun in the province of Guizhou, one of China’s poorest regions that sends the highest proportion of its youth away to become migrants; and Dongguan, China’s most infamous factory town located in Guangdong, home to both the largest number of migrant workers and the country’s biggest manufacturing base. Within these two towns and the people that move between them, Roberts focuses on the story of the Mo family, former farmers-turned-migrant-workers who are struggling to make a living in a fast-changing country that relegates one-half of its people to second-class status via household registration, land tenure policies and inequality in education and health care systems. In The Myth of Chinese Capitalism, Dexter Roberts brings to life the problems that China and its people face today as they attempt to overcome a divisive system that poses a serious challenge to the country’s future development. In so doing, Roberts paints a boot-on-the-ground cautionary picture of China for a world now held in its financial thrall. Dexter Roberts is an award-winning journalist and a regular commentator on the U.S.-China trade and political relationship. His prior speaking engagements include traditional news media outlets (NPR, Fox News, CNN International) as well as universities and institutes (George Washington University, Council on Foreign Relations, and the Overseas Press Club). He is available for virtual classroom visits to courses that adopt The Myth of Chinese Capitalism. Please contact [email protected] for more information.
The Dark Places Of Business Enterprise
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Author : Pietro Frigato
language : en
Publisher: Routledge
Release Date : 2019-04-05
The Dark Places Of Business Enterprise written by Pietro Frigato and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-05 with Business & Economics categories.
This book considers Thorstein Veblen’s central preoccupation with the dark places of business enterprise, an integral part of the old institutional economics. Combining the contributions made by Karl William Kapp and Philip Mirowski, it proposes the systematization of an adjourned institutional theory of social costs of business enterprise useful for the analysis of contemporary crises. The Dark Places of Business Enterprise explores the research potential of the theory of social costs for the analysis of actual business behavior in the current globalized privatization regime. It begins with a detailed outline of Veblen’s critique of business enterprise and market competition before illustrating the methodical enrichment of this approach through Kapp’s work. Finally, it concludes by proposing the integration of the Veblenian-Kappian approach with Mirowski’s theory of markets and business doubt manufacture. The resulting theory of social costs will shed light on the ubiquitous business control of society under the now dominant computer-based technological infrastructure. This interdisciplinary foundation of the theory of social costs, encompassing knowledge from computer science and engineering to natural sciences, provides the tools required to analyze this great transformation.