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Efficiency Vs Equity
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Book Synopsis Equality and Efficiency REV by : Arthur M. Okun
Download or read book Equality and Efficiency REV written by Arthur M. Okun and published by Brookings Institution Press. This book was released on 2015-04-30 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation by : Mr. Andrew Berg
Download or read book For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation written by Mr. Andrew Berg and published by International Monetary Fund. This book was released on 2021-07-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Public Microeconomics by : Joaquim Silvestre
Download or read book Public Microeconomics written by Joaquim Silvestre and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a concise, simple, yet precise discussion of externalities, public goods and insurance. Rooted in the first fundamental theorem of welfare economics and in noncooperative equilibrium, it employs elementary calculus. The book presents established theory in novel ways, and offers the tools for the application of the social welfare criteria of efficiency and equity to environmental economics, networks, bargaining, political economy, and the pricing of public goods and public utilities. This innovative, user-friendly textbook will be of use over a broad range of disciplines. The applications found here include international global-warming issues (North vs. South model), and bargaining over externalities (Coase's theorem). This text also introduces the Wicksell-Lindahl model in its original form, which depicts the parliamentary negotiation between representative parties and provides an effective introduction to political economy. Later, these ideas are applied to the pricing of an excludable public good, revealing the theoretical connection between public utility pricing and the pricing of excludable public goods. The text integrates three forms of discourse: verbal, graphical, and formal. Elementary calculus is frequently used, allowing for clarity and precision; qualities that are often missing in conventional textbooks. The main text considers a finite number of consumers and appendices cover the continuum mathematical model, which is implicit in the references to the 'marginal consumer' found in traditional texts. The analysis found in Public Microeconomics is simple and operational, conducive to computationally easy examples and exercises. This textbook is ideally suited to graduate and upper-level undergraduate courses in economics, political science, policy and philosophy.
Book Synopsis Equity and Well-Being by : Hyun Hwa Son
Download or read book Equity and Well-Being written by Hyun Hwa Son and published by Routledge. This book was released on 2013-04-03 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equity is an abstract concept covering philosophical issues such as fairness and social justice, making its definition and measurement complex. This volume tackles these complexities head-on. The book is enriched with many empirical analyses and provides a comprehensive analysis of equity ranging from concepts and measurements to empirical illustrations and policy implications. After an extensive discussion on equity in the introduction, this volume begins with a chapter on well-being where the concepts of functioning and capability are discussed. This is followed by a few chapters on what an equitable distribution is and how equity can be measured. The volume then provides a definition and a methodology to measure equitable growth, examining the relationship between growth, inequality, and poverty. It also presents various empirical illustrations and country-specific experiences with three country case studies which assess whether publicly provided health and education services are equitable in developing Asia, examining the extent to which these social services favor the poor as well as the policy challenges to a more equitable delivery of these services. Finally, these country studies provide evidence–based policy recommendations to improve equity in social service delivery in developing countries. Achieving social equity has long been an important policy goal. There are relatively few studies on equity. This book aims to help fill this gap with an in-depth analysis of the issues associated with equity, covering its concept, measurement, and policy practices and implications.
Download or read book Unbound written by Heather Boushey and published by . This book was released on 2019 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many fear that efforts to address inequality will undermine the economy as a whole. But the opposite is true: rising inequality has become a drag on growth and an impediment to market competition. Heather Boushey breaks down the problem and argues that we can preserve our nation's economic traditions while promoting shared economic growth.
Book Synopsis Equity Versus Efficiency by : Julian Le Grand
Download or read book Equity Versus Efficiency written by Julian Le Grand and published by . This book was released on 1988 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Richard Cookson Publisher :Handbooks in Health Economic Evaluation ISBN 13 :0198838190 Total Pages :385 pages Book Rating :4.1/5 (988 download)
Book Synopsis Distributional Cost-Effectiveness Analysis by : Richard Cookson
Download or read book Distributional Cost-Effectiveness Analysis written by Richard Cookson and published by Handbooks in Health Economic Evaluation. This book was released on 2020-09-30 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health inequalities blight lives, generate enormous costs, and exist everywhere. This book is the definitive all-in-one guide for anyone who wishes to learn about, commission, and use distributional cost-effectiveness analysis to promote both equity and efficiency in health and healthcare.
Book Synopsis The Human Right to Water by : Malcolm Langford
Download or read book The Human Right to Water written by Malcolm Langford and published by Cambridge University Press. This book was released on 2017-10-05 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to engage in a comprehensive examination of the human right to water in theory and in practice.
Book Synopsis Thinking Like an Economist by : Elizabeth Popp Berman
Download or read book Thinking Like an Economist written by Elizabeth Popp Berman and published by Princeton University Press. This book was released on 2023-08-08 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of how economic reasoning came to dominate Washington between the 1960s and 1980s—and why it continues to constrain progressive ambitions today For decades, Democratic politicians have frustrated progressives by tinkering around the margins of policy while shying away from truly ambitious change. What happened to bold political vision on the left, and what shrunk the very horizons of possibility? In Thinking like an Economist, Elizabeth Popp Berman tells the story of how a distinctive way of thinking—an “economic style of reasoning”—became dominant in Washington between the 1960s and the 1980s and how it continues to dramatically narrow debates over public policy today. Introduced by liberal technocrats who hoped to improve government, this way of thinking was grounded in economics but also transformed law and policy. At its core was an economic understanding of efficiency, and its advocates often found themselves allied with Republicans and in conflict with liberal Democrats who argued for rights, equality, and limits on corporate power. By the Carter administration, economic reasoning had spread throughout government policy and laws affecting poverty, healthcare, antitrust, transportation, and the environment. Fearing waste and overspending, liberals reined in their ambitions for decades to come, even as Reagan and his Republican successors argued for economic efficiency only when it helped their own goals. A compelling account that illuminates what brought American politics to its current state, Thinking like an Economist also offers critical lessons for the future. With the political left resurgent today, Democrats seem poised to break with the past—but doing so will require abandoning the shibboleth of economic efficiency and successfully advocating new ways of thinking about policy.
Book Synopsis Higher Education: Handbook of Theory and Research by : John C. Smart
Download or read book Higher Education: Handbook of Theory and Research written by John C. Smart and published by Springer Science & Business Media. This book was released on 2006-05-11 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published annually since 1985, the Handbook series provides a compendium of thorough and integrative literature reviews on a diverse array of topics of interest to the higher education scholarly and policy communities. Each chapter provides a comprehensive review of research findings on a selected topic, critiques the research literature in terms of its conceptual and methodological rigor, and sets forth an agenda for future research intended to advance knowledge on the chosen topic. The Handbook focuses on twelve general areas that encompass the salient dimensions of scholarly and policy inquiries undertaken in the international higher education community. The series is fortunate to have attracted annual contributions from distinguished scholars throughout the world.
Book Synopsis Equity, Efficiency and Increasing Returns by : D. J. Brown
Download or read book Equity, Efficiency and Increasing Returns written by D. J. Brown and published by . This book was released on 1978 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Valuing Environmental and Natural Resources by : Timothy C. Haab
Download or read book Valuing Environmental and Natural Resources written by Timothy C. Haab and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-market valuation has become a broadly accepted and widely practiced means of measuring the economic values of the environment and natural resources. In this book, the authors provide a guide to the statistical and econometric practices that economists employ in estimating non-market values. The authors develop the econometric models that underlie the basic methods: contingent valuation, travel cost models, random utility models and hedonic models. They analyze the measurement of non-market values as a procedure with two steps: the estimation of parameters of demand and preference functions and the calculation of benefits from the estimated models. Each of the models is carefully developed from the preference function to the behavioral or response function that researchers observe. The models are then illustrated with datasets that characterize the kinds of data researchers typically deal with. The real world data and clarity of writing in this book will appeal to environmental economists, students, researchers and practitioners in multilateral banks and government agencies.
Book Synopsis Environmental and Natural Resource Economics by : Thomas H. Tietenberg
Download or read book Environmental and Natural Resource Economics written by Thomas H. Tietenberg and published by Routledge. This book was released on 2018-03-13 with total page 779 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental and Natural Resource Economics is the best-selling text for natural resource economics and environmental economics courses, offering a policy-oriented approach and introducing economic theory and empirical work from the field. Students will leave the course with a global perspective of both environmental and natural resource economics and how they interact. Complemented by a number of case studies showing how underlying economic principles provided the foundation for specific environmental and resource policies, this key text highlights what can be learned from the actual experience. This new, 11th edition includes updated data, a number of new studies and brings a more international focus to the subject. Key features include: Extensive coverage of the major issues including climate change, air and water pollution, sustainable development, and environmental justice. Dedicated chapters on a full range of resources including water, land, forests, fisheries, and recyclables. Introductions to the theory and method of environmental economics including externalities, benefit-cost analysis, valuation methods, and ecosystem goods and services. Boxed ‘Examples’ and ‘Debates’ throughout the text which highlight global examples and major talking points. The text is fully supported with end-of-chapter summaries, discussion questions, and self-test exercises in the book and multiple-choice questions, simulations, references, slides, and an instructor’s manual on the Companion Website.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309452961 Total Pages :583 pages Book Rating :4.3/5 (94 download)
Book Synopsis Communities in Action by : National Academies of Sciences, Engineering, and Medicine
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Book Synopsis Equity, Envy, and Efficiency by : Hal R. Varian
Download or read book Equity, Envy, and Efficiency written by Hal R. Varian and published by . This book was released on 1973 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Efficiency Vs. Equity Concerns in Regulatory Sandboxes by : Claude Crampes
Download or read book Efficiency Vs. Equity Concerns in Regulatory Sandboxes written by Claude Crampes and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Redistribution, Inequality, and Growth by : Mr.Jonathan David Ostry
Download or read book Redistribution, Inequality, and Growth written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2014-02-17 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
