Efficiency, Equality and Public Policy

With A Case for Higher Public Spending

Inbunden, Engelska, 2000

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Yew-Kwan Ng provides arguments for the exclusive concern with 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. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Relative income and environmental disruption effects cause a bias in favour of private spending which is no longer conducive to happiness socially. Welfare can be increase more by higher public spending on research and environmental protection, including the perfection of the techniques of brain stimulation to increase happiness.

Produktinformation

Utgivningsdatum2000-04-19
Mått140 x 216 x 16 mm
Vikt404 g
FormatInbunden
SpråkEngelska
Antal sidor189
Upplaga2000
FörlagPalgrave Macmillan
ISBN9780333671658

Tillhör följande kategorier

Offentlig förvaltning inom Samhalle och politik
Finansiering inom Ekonomi och ledarskap
Miljöekonomi inom Ekonomi och ledarskap

YEW-KWANG NG holds a personal chair in economics at Monash University and is a fellow of the Academy of Social Sciences in Australia. His main publications include Welfare Economics (1979), Mesoeconomics: A Micro-Macro Analysis (1986), Social Welfare and Economic Policy (1990), Specialization and Economic Organization (1993, with X.Yang), `Towards Welfare Biology', Biology and Philosophy (1995), and Increasing Returns and Economic Analysis (1998, with K.Arrow and X.Yang).

Preface List of Tables and Figures Introduction The Necessity of Interpersonal Cardinal Utility Welfarism Utility, Informed Preference, or Happiness Utilitarianism A Dollar is a Dollar: Solution to the Paradox of Interpersonal Cardinal Utility Economics versus Politics A Case for Higher Public Spending The Appropriate Benefit/Cost Ratio for Public Spending Concluding Remarks Appendices References Index

'Kwang Ng is the leading proponent of the use of cardinal, interpersonally comparable utilities in economics. In this book he both defends their use and illustrates their application. Ng's analysis is both lucid and provocative. A fascinating journey into applied welfare economics.' - Professor Dennis Mueller, former President of the Public Choice Society and the Industrial Organization Society, USA 'Yew-Kwang Ng has been one of the most original minds studying the foundations of economic policy analysis. His work has now been brought together in one place, where the interrelations of his ideas can be most fruitfully seen. His analyses bring together the philosophical foundations and the elements of positive economic analysis to clarify the rules by which good public decisions about the economy can be made. It will have ideas new to every reader.' - Kenneth J.Arrow, Professor of Economics, Stanford University