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Market Forces And The Public Good
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Book Synopsis Public Goods and Market Failures by : Tyler Cowen
Download or read book Public Goods and Market Failures written by Tyler Cowen and published by Transaction Publishers. This book was released on with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assertions of market failure are usually based on Paul Samuelson's theory of public goods and externalities. This book both develops that theory and challenges the conclusion of many economists and policy-makers that market failures cannot be corrected by market forces. The volume includes major case studies of private provision of public goods. Among the goods considered are lighthouse services, education, municipal services, and environmental conservation.
Book Synopsis The Private Abuse of the Public Interest by : Lawrence D. Brown
Download or read book The Private Abuse of the Public Interest written by Lawrence D. Brown and published by University of Chicago Press. This book was released on 2009-05-15 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite George W. Bush’s professed opposition to big government, federal spending has increased under his watch more quickly than it did during the Clinton administration, and demands on government have continued to grow. Why? Lawrence Brown and Lawrence Jacobs show that conservative efforts to expand markets and shrink government often have the ironic effect of expanding government’s reach by creating problems that force legislators to enact new rules and regulations. Dismantling the flawed reasoning behind these attempts to cast markets and public power in opposing roles, The Private Abuse of the Public Interest urges citizens and policy makers to recognize that properly functioning markets presuppose the government’s ability to create, sustain, and repair them over time. The authors support their pragmatic approach with evidence drawn from in-depth analyses of education, transportation, and health care policies. In each policy area, initiatives such as school choice, deregulation of airlines and other carriers, and the promotion of managed care have introduced or enlarged the role of market forces with the aim of eliminating bureaucratic inefficiency. But in each case, the authors show, reality proved to be much more complex than market models predicted. This complexity has resulted in a political cycle—strikingly consistent across policy spheres—that culminates in public interventions to sustain markets while protecting citizens from their undesirable effects. Situating these case studies in the context of more than two hundred years of debate about the role of markets in society, Brown and Jacobs call for a renewed focus on public-private partnerships that recognize and respect each sector’s vital—and fundamentally complementary—role.
Book Synopsis American Government 3e by : Glen Krutz
Download or read book American Government 3e written by Glen Krutz and published by . This book was released on 2021-07-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: American Government 3e aligns with the topics and objectives of many government courses. Faculty involved in the project have endeavored to make government workings, issues, debates, and impacts meaningful and memorable to students while maintaining the conceptual coverage and rigor inherent in the subject. With this objective in mind, the content of this textbook has been developed and arranged to provide a logical progression from the fundamental principles of institutional design at the founding, to avenues of political participation, to thorough coverage of the political structures that constitute American government. The book builds upon what students have already learned and emphasizes connections between topics as well as between theory and applications. The goal of each section is to enable students not just to recognize concepts, but to work with them in ways that will be useful in later courses, future careers, and as engaged citizens.
Book Synopsis An Inquiry Into the Nature and Causes of the Wealth of Nations by : Adam Smith
Download or read book An Inquiry Into the Nature and Causes of the Wealth of Nations written by Adam Smith and published by . This book was released on 1822 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Introducing Market Forces Into "public" Services by : Arthur Seldon
Download or read book Introducing Market Forces Into "public" Services written by Arthur Seldon and published by Collected Works of Arthur Seld. This book was released on 2005 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing Market Forces into "Public" Services is the fourth volume in Liberty Fund's The Collected Works of Arthur Seldon. It brings together six of Seldon's most pivotal essays that discuss his alternative proposals for paying for "public" services rather than through coercive taxation. Specifically, Seldon focuses on the varied use of vouchers and the choices people have regarding purchasing or receiving such public services as health care and education. The recurring theme, as noted in Colin Robinson's introduction, is that "non-market provision, financed by taxpayers, leads to a fatal disconnection between suppliers and consumers." Throughout this book, Seldon examines the options and obligations of the government as the "middle-man." Seldon creates a compelling case that through a return to market principles, "efficiency in the provision of these services will improve, and, above all, people will regain the incentive to provide for themselves instead of relying on the state." This volume is an invaluable resource for those embroiled in the public debate over such issues as education vouchers, managed health care, and overwhelming taxation. Arthur Seldon has been writing on classical liberal economics since the 1930s, when he was a student at the London School of Economics during Friedrich Hayek's time there. For over thirty years, from the late 1950s, he was Editorial Director of the London-based Institute of Economic Affairs, where his publishing program was one of the principal influences on governments all around the world, persuading them to liberalize their economies. His Collected Works in these seven volumes are a major contribution to classical liberal thought. Colin Robinson was a business economist for eleven years. He was then appointed to the Chair of Economics at the University of Surrey, Guildford, United Kingdom, where he founded the Department of Economics and is now Emeritus Professor. He is the author of 23 books and over 150 scholarly articles and has edited many other books. For many years he has been associated with the Institute of Economic Affairs and from 1992 to 2002 he was the IEA's Editorial Director.
Book Synopsis The Demand and Supply of Public Goods by : James M. Buchanan
Download or read book The Demand and Supply of Public Goods written by James M. Buchanan and published by . This book was released on 1999 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public-goods theory constituted a major element in James M. Buchanan’s research agenda throughout the 1960s. The Demand and Supply of Public Goods is a major part of that work. At the time that Buchanan was elaborating on his theories of public goods, the prevailing trend in public economics was the emergence of public-expenditure theory, which attempted to form a comprehensive theory of the state around the notion of market failure. The Demand and Supply of Public Goods established Buchanan’s broad purpose of explicitly comparing market performance with political performance. As such, the book is an important part of Buchanan’s contractarian theory of the "productive state.” Conceived originally as a series of lectures given at Cambridge University in 1961 and 1962, The Demand and Supply of Public Goods is written for students, but is in no way a textbook of dry pedagogy. Instead, as Geoffrey Brennan writes in the foreword, "What Buchanan provides here is a clear statement of the contractarian approach to public goods problems, very much in the 'voluntary exchange’ tradition of Wicksell and Lindhal.” James M. Buchanan is an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and is considered one of the greatest scholars of liberty in the twentieth century. The entire series will include: Volume 1: The Logical Foundations of Constitutional Liberty Volume 2: Public Principles of Public Debt Volume 3: The Calculus of Consent Volume 4: Public Finance in Democratic Process Volume 5: The Demand and Supply of Public Goods Volume 6: Cost and Choice Volume 7: The Limits of Liberty Volume 8: Democracy in Deficit Volume 9: The Power to Tax Volume 10: The Reason of Rules Volume 11: Politics by Principle, Not Interest Volume 12: Economic Inquiry and Its Logic Volume 13: Politics as Public Choice Volume 14: Debt and Taxes Volume 15: Externalities and Public Expenditure Theory Volume 16: Choice, Contract, and Constitutions Volume 17: Moral Science and Moral Order Volume 18: Federalism, Liberty, and the Law Volume 19: Ideas, Persons, and Events Volume 20: Indexes
Book Synopsis Public Goods for Economic Development by : Olga Memedović
Download or read book Public Goods for Economic Development written by Olga Memedović and published by UN. This book was released on 2008 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication addresses factors that promote or inhibit successful provision of the four key international public goods: financial stability, international trade regime, international diffusion of technological knowledge and global environment. Without these goods, developing countries are unable to compete, prosper or attract capital from abroad. The need for public goods provision is also recognized by the Millennium Development Goals, internationally agreed goals and targets for knowledge, health, governance and environmental public goods. The Report addresses the nature of required policies and institutions using the modern principles of collective action.
Book Synopsis What Money Can't Buy by : Michael J. Sandel
Download or read book What Money Can't Buy written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2012-04-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?
Book Synopsis The Market for Force by : Deborah D. Avant
Download or read book The Market for Force written by Deborah D. Avant and published by Cambridge University Press. This book was released on 2005-07-25 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legitimate use of force is generally presumed to be the realm of the state. However, the flourishing role of the private sector in security over the last twenty years has brought this into question. In this book Deborah Avant examines the privatization of security and its impact on the control of force. She describes the growth of private security companies, explains how the industry works, and describes its range of customers – including states, non-government organisations and commercial transnational corporations. She charts the inevitable trade-offs that the market for force imposes on the states, firms and people wishing to control it, suggests a new way to think about the control of force, and offers a model of institutional analysis that draws on both economic and sociological reasoning. The book contains case studies drawn from the US and Europe as well as Africa and the Middle East.
Book Synopsis Market Forces and the Public Good by :
Download or read book Market Forces and the Public Good written by and published by . This book was released on 1989 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of U.S. Health Care Policy: The Role of Market Forces by : Frank W. Musgrave
Download or read book The Economics of U.S. Health Care Policy: The Role of Market Forces written by Frank W. Musgrave and published by Routledge. This book was released on 2015-02-24 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed as a primary text for courses in health care economics and policy analysis, this comprehensive work places the issues and economic analysis of the health care industry in the context of market forces driving the industry, including negotiated markets, managed care, and the growing influence of oligopolies. Written in accessible prose, without the aid of technical jargon and mathematical formulations, the content is rich with applicable, understandable economic concepts and analysis, and examples of market failure and government involvement. Some of the major policy issues covered are drug pricing, Medicare and Medicaid reform, the medically uninsured, for-profit hospital monopoly price power, managed care competitive pricing, and new negotiated markets. The relevant economic concepts employed in the text include price elasticity of demand/supply, market structure from competitive to oligopolistic markets, monopoly pricing power, measures of health care inflation and the biases of the CPI, demand and supply factors, inverse relationship of present health care expenditures as a percentage of GDP, measures/concepts of efficiency, and the role of government in a market era.
Book Synopsis Demand Revelation and the Provision of Public Goods by : Edward Clarke
Download or read book Demand Revelation and the Provision of Public Goods written by Edward Clarke and published by iUniverse. This book was released on 2000 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: The demand revelation process has been called a new and superior process for making social choices and holds some promise of creating an intellectual revolution in economics and politics. It relies on a so-called “Clarke tax” or pivot mechanism to ensure that individuals will adequately consider the social cost of their influence on social outcomes, thereby ensuring truthful revelation of preferences and overcoming the “free rider” problem of public goods provisioning. Demand Revelation and the Provision of Public Goods outlines Clarke’s approach to use demand revelation in the creation of demand revealing markets accompanied by the improved management of social entitlements to public goods and services. Based on these refinements, he shows ways to achieve improved government performance in areas of taxation, spending and government regulatory management. In this revised edition of his original 1980 book, Clarke reviews other recent related work, notably Martin Bailey’s Constitution for a Future Country, which describes in detail how these advances in an improved political economy can be achieved.
Book Synopsis The Theory of Market Failure by : Tyler Cowen
Download or read book The Theory of Market Failure written by Tyler Cowen and published by . This book was released on 1988 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Co-published by arrangement with the Cato Institute"--T.p. verso. Includes bibliographies.
Book Synopsis What We Owe Each Other by : Minouche Shafik
Download or read book What We Owe Each Other written by Minouche Shafik and published by Princeton University Press. This book was released on 2022-08-23 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.
Book Synopsis Limiting Resources by : LaDawn Haglund
Download or read book Limiting Resources written by LaDawn Haglund and published by Penn State Press. This book was released on 2015-09-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The provision of public goods such as education, electricity, health, sanitation, and water used to be regarded as primarily the responsibility of governments, but in the 1980s privatization of such services spread and reliance on market mechanisms instead of governments became common in many parts of the world, including developing countries. The record of the past twenty-five years of market-led development, however, has not been encouraging. Not only has it failed to improve public services significantly, but it has also undermined democratic institutions and processes, reproduced authoritarian relations of power, and suppressed alternatives made possible by an increasing global acceptance of the importance of economic and social rights. In Limiting Resources, LaDawn Haglund seeks an understanding of public goods that can better serve the needs of people in developing countries today. Haglund critiques the narrow conception of public goods used in economics, which tends to limit the range of resources considered “public,” and proposes an expanded conception drawing from multiple disciplines that incorporates issues of justice, inclusion, and sustainability. She then uses case studies of electricity and water provision in Central America to illuminate the conditions for success and the causes of failure in constructing adequate mechanisms for the supply of public goods. She follows with an analysis of political conflicts over privatization that reveals how neoliberal policies have made effective state action difficult. The book concludes with suggestions for ways in which this reformulated conception of public goods can be applied to promote justice, sustainability, and economic and social rights in developing countries.
Book Synopsis All the News That's Fit to Sell by : James T. Hamilton
Download or read book All the News That's Fit to Sell written by James T. Hamilton and published by Princeton University Press. This book was released on 2011-10-23 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: That market forces drive the news is not news. Whether a story appears in print, on television, or on the Internet depends on who is interested, its value to advertisers, the costs of assembling the details, and competitors' products. But in All the News That's Fit to Sell, economist James Hamilton shows just how this happens. Furthermore, many complaints about journalism--media bias, soft news, and pundits as celebrities--arise from the impact of this economic logic on news judgments. This is the first book to develop an economic theory of news, analyze evidence across a wide range of media markets on how incentives affect news content, and offer policy conclusions. Media bias, for instance, was long a staple of the news. Hamilton's analysis of newspapers from 1870 to 1900 reveals how nonpartisan reporting became the norm. A hundred years later, some partisan elements reemerged as, for example, evening news broadcasts tried to retain young female viewers with stories aimed at their (Democratic) political interests. Examination of story selection on the network evening news programs from 1969 to 1998 shows how cable competition, deregulation, and ownership changes encouraged a shift from hard news about politics toward more soft news about entertainers. Hamilton concludes by calling for lower costs of access to government information, a greater role for nonprofits in funding journalism, the development of norms that stress hard news reporting, and the defining of digital and Internet property rights to encourage the flow of news. Ultimately, this book shows that by more fully understanding the economics behind the news, we will be better positioned to ensure that the news serves the public good.
