The Economics of Welfare PDF Download

Author: Arthur Cecil Pigou
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 1024

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Author: Roger A. McCain
Publisher: Routledge
ISBN: 1134864388
Category : Business & Economics
Languages : en
Pages : 241

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Although it was an important specialization in economics in the mid-twentieth century, welfare economics has received less attention in the twenty-first century. This book explores the history of welfare economics, with a view to explaining its rise and subsequent decline. Drawing on both philosophy and economics, this book offers a new and original perspective on the history of welfare economics, starting with Pigou and charting the trajectory of applied and theoretical welfare economics throughout the twentieth century. This book will be of interest to students and researchers of philosophy, economics and history of economic thought.

Author: Allan M. Feldman
Publisher: Springer Science & Business Media
ISBN: 038729368X
Category : Business & Economics
Languages : en
Pages : 401

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Book Description
This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.

Author: Per-Olov Johansson
Publisher: Cambridge University Press
ISBN: 9780521356954
Category : Business & Economics
Languages : en
Pages : 194

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Book Description
This is the first book in welfare economics to be primarily intended for undergraduates and non-specialists. Concepts such as Pareto optimality in a market economy, the compensation criterion, and the social welfare function are explored in detail. Market failures are analysed by using different ways of measuring welfare changes. The book also examines public choice, and the issues of provision of public goods, median voter equilibrium, government failures, efficient and optimal taxation, and intergenerational equity. The three final chapters are devoted to applied welfare economics: methods for revealing people's preferences, cost-benefit analysis, and project evaluation in a risky world. The book is intended for introductory and intermediate courses in welfare economics, microeconomics, and public economics. It will also be suitable for courses in health economics, environmental economics, and cost-benefit analysis, as well as those undertaking project evaluations in government agencies and private firms.

Author: Michael Albert
Publisher: Princeton University Press
ISBN: 1400887054
Category : Business & Economics
Languages : en
Pages : 455

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This ambitious work presents a critique of traditional welfare theory and proposes a new approach to it. Radical economists Robin Hahnel and Michael Albert argue that an improved theory of social welfare can consolidate and extend recent advances in microeconomic theory, and generate exciting new results as well. The authors show that once the traditional "welfare paradigm" is appropriately modified, a revitalized welfare theory can clarify the relationship between individual and social rationalitya task that continues to be of interest to mainstream and nonmainstream economists alike. Hahnel and Albert show how recent work in the theory of the labor process, externalities, public goods, and endogenous preferences can advance research in welfare theory. In a series of important theorems, the authors extend the concept of Pareto optimality to dynamic contexts with changing preferences and thus highlight the importance of institutional bias. This discussion provides the basis for further analysis of the properties and consequences of private and public enterprise and of markets and central planning. Not surprisingly, Hahnel and Albert reach a number of conclusions at odds with conventional wisdom. Originally published in 1990. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Author: I. M. D. Little
Publisher: Oxford University Press
ISBN: 0191029394
Category : Political Science
Languages : en
Pages : 324

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Book Description
A Critique of Welfare Economics was first published in 1950. It was concerned with the exposition, criticism, and appreciation of the theory of economic welfare as it had been developed to that date. It was an attempt to clarify what was meant by 'welfare'; to distinguish measurable, verifiable elements of the theory from subjective normative judgements about policies for improving economic well-being; and to establish criteria for determining whether one configuration of the economic system is better or worse than another. Little showed that the welfare theory of the time could be based directly on individual market choices, and that resort to traditional utilitarian concepts was not essential. A Critique of Welfare Economics is now reissued at the same time as Ethics, Economics, and Politics — Little's latest book which explores the overlap between the three disciplines, and discusses the need for political decisions in economic matters, and the principles guiding them. He has added a new retrospective preface to Critique in which he assesses the contribution the book made in the light of subsequent literature in the area.

Author: Richard E. Just
Publisher: Edward Elgar Publishing
ISBN: 1845421574
Category : Political Science
Languages : en
Pages : 706

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The Welfare Economics of Public Policy is a great book that should be of interest to all economists interested in applied welfare analysis. It is a good reference book for economists studying the effects of public policy. Finally, it should be a useful textbook for students studying economic policy and applied welfare economics. Jean-Paul Chavas, American Journal of Agricultural Economics . . . a very comprehensive overview of the state of the art in welfare economics. It can be used as a teaching book for advanced students as well as a reference volume for researchers. This duality of possible uses is supported by the fact that very complex issues are presented in an easily readable manner. More technical aspects are then outlined in the appendices of the relevant chapters, offering colleagues the option to study formal considerations in more detail. . . a welcome addition to and expression of the knowledge base of agricultural economics. Stefan Mann, Journal of Agricultural Economics I am absolutely delighted that the authors have revised and republished this text. I have used the previous version for years in my graduate environmental economics course; usually I had to share the one copy I have with students and I felt it was a shame that these students did not have the opportunity to purchase the book since every serious environmental economist should have this volume on their shelf. It has been a continuous reference volume for me over the years and I am sure this is true of many others in the discipline. In the field of applied welfare analysis (spanning environmental economics, international trade, agricultural policy, etc.) there is no need for further elaboration when Just, Hueth and Schmitz is referenced. Everyone knows the book that is being referred to: the bible of applied welfare economics. Catherine Kling, Iowa State University, US For the record, I am one of the people who requested that the authors revise and re-issue their textbook. It is an extremely valuable book for applied economists; as with the previous edition, I will use it extensively in two of my courses and consult it frequently in my own research endeavors. Richard Adams, Oregon State University, US The original book is very well known in our profession and is still used in many classes. It will be wonderful to have a revised edition of this classic book. Colin Carter, University of California, Davis, US This outstanding text, a follow-up to the authors award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to develop policy analysis from both theory and estimation in a variety of areas including: international trade, the economics of technological change, agricultural economics, the economics of information, environmental economics, and the economics of extractive and renewable natural resources. Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory. Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues. The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economi

Author: Max Koch
Publisher: Routledge
ISBN: 1317407423
Category : Business & Economics
Languages : en
Pages : 232

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Book Description
Welfare is commonly conceptualized in socio-economic terms of equity, highlighting distributive issues within growing economies. While GDP, income growth and rising material standards of living are normally not questioned as priorities in welfare theories and policy making, there is growing evidence that Western welfare standards are not generalizable to the rest of the planet if environmental concerns, such as resource depletion or climate change, are considered. Sustainability and the Political Economy of Welfare raises the issue of what is required to make welfare societies ecologically sustainable. Consisting of three parts, this book regards the current financial, economic and political crisis in welfare state institutions and addresses methodological, theoretical and wider conceptual issues in integrating sustainability. Furthermore, this text is concerned with the main institutional obstacles to the achievement of sustainable welfare and wellbeing, and how these may feasibly be overcome. How can researchers assist policymakers in promoting synergy between economic, social and environmental policies conducive to globally sustainable welfare systems? Co-authored by a variety of cross-disciplinary contributors, a diversity of research perspectives and methods is reflected in a unique mixture of conceptual chapters, historical analysis of different societal sectors, and case studies of several EU countries, China and the US. This book is well suited for those who are interested in and study welfare, ecological economics and political economy.

Author: Robert Sugden
Publisher: Wiley-Blackwell
ISBN: 9780631144496
Category : Business & Economics
Languages : en
Pages : 204

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This is a new edition - with a substantial new introduction - of a book which has had a significant impact on economics, philosophy and political science. Robert Sugden shows how conventions of property, mutual aid, and voluntary supply of public goods can evolve spontaneously out of the interactions of self-interested individuals, and can become moral norms. Sugden was among the first social scientists to use evolutionary game theory. His approach remains distinctive in emphasizing psychological and cultural notions of salience.

Author: Robert A. Dahl
Publisher: Routledge
ISBN: 1351308157
Category : Political Science
Languages : en
Pages : 612

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Book Description
For most of this century, the habit of thinking about politics and economics in terms of grand and simple alternatives has exerted a powerful influence over the minds of those concerned with economic organization. Politics, Economics, and Welfare is a systematic attack on the idea of all-embracing ideological solutions to complex economic problems.