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Author: Arthur M. Okun
Publisher: Brookings Institution Press
ISBN: 0815726546
Category : Business & Economics
Languages : en
Pages : 171
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Book Description
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
Author: Arthur M. Okun
Publisher: Brookings Institution Press
ISBN: 0815726546
Category : Business & Economics
Languages : en
Pages : 171
Get Book Here
Book Description
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
Author: Seth A. Berkowitz
Publisher: JHU Press
ISBN: 1421448246
Category : Law
Languages : en
Pages : 377
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Book Description
"This work illustrates how health inequity is social failure and the only true cures are political"--
Author: Frank Munger
Publisher: Routledge
ISBN: 1351154184
Category : Social Science
Languages : en
Pages : 586
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Book Description
Socio-legal research on the legal experiences of the poor reflects an understanding of the close connection between economic inequality and law. The first two parts of this volume illustrate general analytical approaches to law and poverty. The remaining parts include essays which examine more specific issues such as race and gender, access to law, legal consciousness and social change. Research on the relationships between poverty, inequality and governance still leaves many questions unanswered but the work presented here reflects the important contribution that sociolegal research makes to the ongoing debate.
Author: John Antonio Pascarella
Publisher: Rowman & Littlefield
ISBN: 1786608448
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
What is the nature of economics? How does economics relate to politics? Readers searching for the Ancient Greeks’ answers to these questions often turn to Aristotle, focusing on small portions of the Politics and Nicomachean Ethics that relate to money-making, exchange, and household management. While this approach yields some understanding of economics and politics, it fails to account for how Aristotle’s theoretical inquiry into these practical matters reflects the character of his political philosophy. According to Aristotle, the Ethics and Politics together form “the philosophy concerning the human things.” All human things begin with choice, an intellectual desire and need for the good. Aristotle’s care for this desire is the heart of his political philosophy. Through a close, literal, and careful reading of Aristotle’s political philosophy, readers discover the natural boundaries to economic and political life. Simultaneously theoretical and practical, Aristotle’s political philosophy offers readers a perspective of economics and politics that provides them the experience of the knowledge they need to desire and live within the limit of the good.
Author: John Smithin
Publisher: Rowman & Littlefield
ISBN: 1498542824
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
This book provides a comprehensive re-working of the basic principles of monetary macroeconomics in an alternative monetary model (AMM) of economic growth, the business cycle, inflation and income distribution. These principles differ considerably from those advanced in the standard macroeconomics literature and in textbooks. However, the latter have been demonstrably unsuccessful in the promotion of usable macroeconomic policy advice for the past several years, actually decades. A different approach is needed. In particular, the new approach takes seriously the vital role of credit creation and endogenous money in capitalism. It does not imagine that all of the difficult questions of economic policy-making may be resolved within a paradigm that conceptualizes economic activity as merely a question of barter exchange. The result is a blueprint for a set of growth-friendly macroeconomic policies which will promote full employment, financial stability and higher real wages – essentially for the benefit of the long-suffering middle and working classes rather for the chamber of commerce and financial interests.
Author: E. J. Mishan
Publisher: Routledge
ISBN: 1136629556
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
First published in 1981, Professor Mishan’s Economic Efficiency and Social Welfare: Selected Essays on Fundamental Aspects of the Economic Theory of Social Welfare is a collection of 22 pioneering essays written while the author was teaching at the London School of Economics and chosen to indicate landmarks in the development of his own thought. Professor Mishan, who also enjoys an international reputation as a popular writer on the impact of modern economic growth on social welfare, is among the foremost authorities in the field of resource allocation, and his influence in his subject area has been profound. Mishan’s essays, while generally accessible to the layman due to the author’s lucidity, his economy in the use of mathematical notation and his concern with perspective, are invaluable reading for the economics undergraduate. The essays are particularly relevant to upper level students of project appraisal, welfare economics and cost benefit analysis requiring a coherent survey of their field of study.
Author: Mukherjee
Publisher: PHI Learning Pvt. Ltd.
ISBN: 8120337565
Category :
Languages : en
Pages : 294
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Book Description
Author: Sudipto Bhattacharya
Publisher: World Scientific
ISBN: 9812701028
Category : Business & Economics
Languages : en
Pages : 387
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Book Description
The first edition of Theory of Valuation is a collection of important papers in the field of theoretical financial economics published from 1973 to 1986, and original accompanying essays contributed by eminent researchers including Robert C Merton, Edward C Prescott, Stephen A Ross, and Joseph E Stiglitz. Since then, with the perspective of major theoretical strides in the field, the book has more than fulfilled its original expectations. The realization that it remains today a compendium of classic articles and a must-read for any serious student in theoretical financial economics, has prompted the publication of a new edition. This second edition presents a summary statement of significant research in theoretical financial economics for both the specialist and non-specialist financial economist. It also provides material for PhD-level courses covering valuation theory, and elective reading for advanced MasterOCOs and undergraduate courses. In addition to reproducing the original contributions, this edition includes the seminal paper by Edward C Prescott and Rajnish Mehra, OC Recursive Competitive Equilibrium: The Case of Homogeneous Households, OCO originally published in Econometrica in 1980."
Author:
Publisher:
ISBN:
Category : Hardware
Languages : en
Pages : 2264
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Book Description
Author: Francis K. Peddle
Publisher: Rowman & Littlefield
ISBN: 1683933397
Category : Business & Economics
Languages : en
Pages : 579
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Book Description
Henry George (1839–1897) rose to fame as a social reformer and economist amid the industrial and intellectual turbulence of the late nineteenth century. His best-selling Progress and Poverty (1879) captures the ravages of privileged monopolies and the woes of industrialization in a language of eloquent indignation. His reform agenda resonates as powerfully today as it did in the Gilded Age, and his impassioned prose and compelling thought inspired such diverse figures as Leo Tolstoy, John Dewey, Sun Yat-Sen, Winston Churchill, and Albert Einstein. This six-volume edition of The Annotated Works of Henry George assembles all his major works for the first time with new introductions, critical annotations, extensive bibliographical material, and comprehensive indexing to provide a wealth of resources for scholars and reformers. Volume V of this series presents the unabridged and posthumously published text of The Science Political Economy (1898). George’s original text is comprehensively supplemented by annotations which explain his many references to other political economists and writers both well known and obscure. A new index augments accessibility to the text, the critical annotations, and their key terms. The introductory essay by Professor Francis K. Peddle, “Political Economy and the Satisfactions of Wealth,” provides the historical, economic, and primarily philosophical context for George’s debates with the prominent political economists and thinkers of his time. Henry George, in history books and documentaries, is generally portrayed as a prominent reformer in the Gilded Age, one who ushered in with others the social and economic advances of the Progressive Era in the period from the 1890s to the 1920s. The Science of Political Economy reveals George to be one of the most original and systematic architects of political economy, and its developing self-image as a science, in the nineteenth century, along with David Ricardo, John Stuart Mill, and Alfred Marshall. Henry George wrote The Science of Political Economy in order to correct the many confusions and myths about the nature and definition of wealth, value, and money, as well as the essential assumptions behind efficient production and the moral basis of the distribution of wealth. He defined political economy as the science that treats of the nature of wealth, and of the laws of production and distribution. It is not, for him, a science of human psychology or the twists and turns of political life. George’s constructive critiques of previous political economists led to fresh insights about the meaning and the limitations of political economy, about the intriguing relation between wealth and value, and about how the proper distribution of wealth in society ought to be understood as a function of the cooperative character of civilization. Volume V of The Annotated Works of Henry George presents the culmination of his life’s work and thought.
