Equality And Efficiency Rev

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

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.

Professor Wilkinson aims to defend equality against the objection that, due to its failure to provide incentives, it must conflict with either freedom or efficiency, or both. He explains the problem of incentives, the relationship between freedom, efficiency, and equality, and the difficulties of describing an ideal egalitarian economy, before concluding with his own radical solution, a scheme of social duty in a market system.

Introduces a vision for the future of health equity and explains practical policy measures for how to achieve it. Health inequity is one of the defining problems of our time. But current efforts to address the problem focus on mitigating the harms of injustice rather than confronting injustice itself. In Equal Care, Seth A. Berkowitz, MD, MPH, offers an innovative vision for the future of health equity by examining the social mechanisms that link injustice to poor health. He also presents practical policies designed to create a system of social relations that ensures equal care for everyone. As Berkowitz illustrates, the project of social democracy works to improve health by bringing relationships of equality to the sites of human cooperation: in civil society, in political processes, and in economic activities. This book synthesizes three elements necessary for such a project—normative justification, mechanistic knowledge, and technical proficiency—into a practical vision of how to create health equity. Drawing from the fields of medicine, social epidemiology, sociology, economics, political science, philosophy, and more, Berkowitz makes clear that health inequity is social failure embodied, and the only true cures are political. Equal Care is essential reading for anyone concerned with the future of health equity.

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.

This volume revisits educational equality and equity issues, especially, in education finance-related topics consisting of 15 chapters and organized in two parts. The first part of the volume entitled “Education Finance”, focuses on equity aspects of resource allocation and its influence on education. The second part, entitled “Educational Equality and Equity”, focuses on the conceptualization, and the measurements of educational inequity, and inequality with special emphasis on the cost of inequality. The field of education finance has been significantly influencing policy-makers in many countries in recent years. This volume is focused on equity and equality in education finance in an international frame. This book would be of interest to (1) scholars at the fields of education finance, economics of education, and educational policy, (2) graduate students at the course of school finance or economics of education, and (3) local and global policy makers at the fields of education policy, and education finance.

This unique study offers a comprehensive analysis of American jurisprudence from its emergence in the later stages of the nineteenth century through to the present day. The author argues that it is a mistake to view American jurisprudence as a collection of movements and schools which have emerged in opposition to each other. By offering a highly original analysis of legal formalism, legal realism, policy science, process jurisprudence, law and economics, and critical legal studies, he demonstrates that American jurisprudence has evolved as a collection of themes which reflect broader American intellectual and cultural concerns.

This book examines the economic policies that will underpin the evolution of growth in industrialised economies in coming decades. The change in focus of policymakers away from short-term regulation and policies towards problems of structural change is discussed in relation to the Taylor rule and Fisher relationship. Both empirical observations and quantitative analyses are utilised to explore diverse but interrelating topics, including interest rates dynamics, macroeconomic equilibrium, economic vulnerability, poverty and inequality, environmental sustainability, and monetary and fiscal policies. This book aims to propose policies that can produce economic growth without compromising social stability and environmental balances. It will be of interest to researchers and policymakers working within economic development and policy.