Efficiency, Equality and Public Policy: With a Case for Higher Public Spending - Rilegato

Ng, Yew-Kwang

Rilegato

ISBN 10: 031223208X ISBN 13: 9780312232085

Casa editrice: Palgrave Macmillan, 2000

Riassunto

This book provides a tremendous simplification in the formation of economic policies, in cost-benefit analysis in particular. It advances compelling arguments for the exclusive concern of 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. Interpersonal comparisons of welfares are needed for this latter efficiency/equality trade-off. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Economists overestimate the costs of public spending by emphasizing the excess burden of taxation, ignoring the offsetting effects on the spending side, the existence of environmental disruption effects and burden-free taxes on diamond goods. Relative-income effects cause a bias in favour of private consumption which is no longer conducive to social happiness.

Su questo libro

L'autore:

Yew-Kwang Ng is Professor of Economics at Monash University, Australia.

Product Description:

"Efficiency, Equality and Public Policy" provides compelling arguments for the exclusive concern with efficiency in all specific areas of public economic policy, leaving the objective of equality to be achieved through the general tax/transfer system. Public policies, the author argues, should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. The flip side is that relative-income and environmental disruption effects cause a bias in favor of private spending which is no longer conducive to social happiness.

Su questa edizione

• Editore: Palgrave Macmillan
• Data di pubblicazione: 2000
• ISBN 10: 031223208X
• ISBN 13: 9780312232085
• Rilegatura: Copertina rigida
• Numero di pagine: 189