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

Download or read book Unbound written by Heather Boushey and published by Harvard University Press. This book was released on 2019-10-15 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Financial Times Book of the Year “The strongest documentation I have seen for the many ways in which inequality is harmful to economic growth.” —Jason Furman “A timely and very useful guide...Boushey assimilates a great deal of recent economic research and argues that it amounts to a paradigm shift.” —New Yorker Do we have to choose between equality and prosperity? Decisions made over the past fifty years have created underlying fragilities in our society that make our economy less effective in good times and less resilient to shocks, such as today’s coronavirus pandemic. Many think tackling inequality would require such heavy-handed interference that it would stifle economic growth. But a careful look at the data suggests nothing could be further from the truth—and that reducing inequality is in fact key to delivering future prosperity. Presenting cutting-edge economics with verve, Heather Boushey shows how rising inequality is a drain on talent, ideas, and innovation, leading to a concentration of capital and a damaging under-investment in schools, infrastructure, and other public goods. We know inequality is fueling social unrest. Boushey shows persuasively that it is also a serious drag on growth. “In this outstanding book, Heather Boushey...shows that, beyond a point, inequality damages the economy by limiting the quantity and quality of human capital and skills, blocking access to opportunity, underfunding public services, facilitating predatory rent-seeking, weakening aggregate demand, and increasing reliance on unsustainable credit.” —Martin Wolf, Financial Times “Think rising levels of inequality are just an inevitable outcome of our market-driven economy? Then you should read Boushey’s well-argued, well-documented explanation of why you’re wrong.” —David Rotman, MIT Technology Review

Download or read book Accessibility Equity and Efficiency written by Karst T. Geurs and published by Edward Elgar Publishing. This book was released on 2016-02-26 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading researchers from around the world show, in this volume, the importance of accessibility in contemporary issues such as rural depopulation, investments in public services and public transport, and transport infrastructure investments in Europe. The trade-offs between accessibility, economic development and equity are comprehensively examined, and a variety of approaches to measuring accessibility and equality presented. The book’s interdisciplinary contributions also provide different geographical contexts, from the US to various European and developing countries, and cover ex ante and ex post evaluation of transport investment. Improving transport accessibility is a main objective in transport policy and planning in developed and developing countries all over the world. Investment is motivated by the need to develop and/or reduce spatial or social inequalities. However, the economic and equity implications of investments in transport are not straightforward. The concepts of accessibility and equity can be defined and operationalized in many different ways, influencing outcomes and conclusions. Moreover, equity and efficiency goals are often conflicting. Accessibility models not only help to explain spatial and transport patterns in developed and developing countries but are also powerful tools to explain the equity and efficiency impacts of urban and transport policies and projects. This state-of-the-art overview of the accessibility–economic efficiency–equity relationship will appeal to researchers as well as transport and urban planners interested in accessibility issues and transport/regional developments.

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.

Download or read book Reconciling Efficiency and Equity written by Damien Gerard and published by Cambridge University Press. This book was released on 2019-05-09 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a new conceptualization of competition law as economic inequality and its interaction with efficiency become of central concern to policy and decision-makers.

Download or read book Population Health Science written by Katherine M. Keyes and published by Oxford University Press. This book was released on 2016-07-07 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: POPULATION HEALTH SCIENCE formalizes an emerging discipline at the crossroads of social and medical sciences, demography, and economics--an emerging approach to population studies that represents a seismic shift in how traditional health sciences measure and observe health events. Bringing together theories and methods from diverse fields, this text provides grounding in the factors that shape population health. The overall approach is one of consequentialist science: designing creative studies that identify causal factors in health with multidisciplinary rigor. Distilled into nine foundational principles, this book guides readers through population science studies that strategically incorporate: · macrosocial factors · multilevel, lifecourse, and systems theories · prevention science fundamentals · return on investment · equity and efficiency Harnessing the power of scientific inquiry and codifying the knowledge base for a burgeoning field, POPULATION HEALTH SCIENCE arms readers with tools to shift the curve of population health.

Download or read book Just Growth written by Chris Benner and published by Routledge. This book was released on 2013-03-01 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Breaking new ground in its innovative blend of quantitative and qualitative methods, the book essentially argues that another sort of growth is indeed possible. While offering specific insights for regional leaders and analysts of metropolitan areas, the authors also draw a broader – and quite timely – set of conclusions about how to scale up these efforts to address a U.S. economy still seeking to recover from economic crisis and ameliorate distributional divisions.

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.

Download or read book Spatial inequalities and regional development written by Henk Folmer and published by Springer Science & Business Media. This book was released on 1979-06-30 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: In September 1977 a 'Regional Science Symposium' was held at the Faculty of Economics of the University of Groningen in the Netherlands. Organized because of the recent establishment at the Faculty of Economics of a group that is engaged in teaching and research in the field of regional science, the aim of the symposium was to make university members more familiar with regional science and to introduce the newly created group to the national and international scene. Two separate topics were selected, of potential interest to both re searchers and policy-makers. The first, spatial inequalities and regional development, was chosen because of its central place in regional science. Authors from several disciplines were asked to approach this theme from a general, policy orientated point of view. This ensured the enlightenment of the various dimensions of spatial inequality and its implications for regional policy. The results have been collected in the volume Spatial Inequalities and Regional Development. The second theme focused on spatial statistical analysis. This branch of statistics is a relatively new one which receives growing attention among researchers in the field of applied regional science. The meeting on this topic concentrated on new results of research on the use of appro priate statistical and econometric methods for analyzing spatial data. The papers concerned have been collected into another volume, Explora tory and Explanatory Statistical Analysis of Spatial Data.

Download or read book Wealth Expanding Theory Under the Principle of Efficiency Equity Equilibrium written by Ye, Fred Y. and published by IGI Global. This book was released on 2022-06-30 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been suggested that national economic policies should focus on taxation to achieve social equity and interest rates for economic efficiency; wealth distribution can balance efficiency and equity through tax rates, interest rates, and exchange rates. Additionally, while the economic system seeks efficiency and the social system pursues equity, common interest modifications with elastic exchange and tax rates should be applied for balancing efficiency and equity. Wealth Expanding Theory Under the Principle of Efficiency-Equity Equilibrium is a comprehensive reference source that considers economic philosophy for extending economic cognition, balancing economic efficiency and social equity, and future interstellar economics. Covering key topics such as poverty, fiscal policy, and macroeconomics, this reference work is ideal for policymakers, government officials, business owners, economists, managers, researchers, scholars, academicians, practitioners, instructors, and students.

Download or read book Environmental Markets written by Terry L. Anderson and published by Cambridge University Press. This book was released on 2014-05-12 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental Markets explains the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. This book compares standard approaches to these problems using governmental management, regulation, taxation, and subsidization with a market-based property rights approach. This approach is applied to land, water, wildlife, fisheries, and air and is compared to governmental solutions. The book concludes by discussing tougher environmental problems such as ocean fisheries and the global atmosphere, emphasizing that neither governmental nor market solutions are a panacea.

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.

Download or read book Efficiency Equity and Legitimacy written by Roger B. Porter and published by Brookings Institution Press. This book was released on 2001 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. This collection of essays examine several key issues at the heart of the debate over the multilateral trading system.

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 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.

Download or read book Equity in Education written by Oecd and published by . This book was released on 2018-10-29 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: In times of growing economic inequality, improving equity in education becomes more urgent. While some countries and economies that participate in the OECD Programme for International Student Assessment (PISA) have managed to build education systems where socio-economic status makes less of a difference to students' learning and well-being, every country can do more. Equity in Education: Breaking Down Barriers to Social Mobility shows that high performance and more positive attitudes towards schooling among disadvantaged 15-year-old students are strong predictors of success in higher education and work later on. The report examines how equity in education has evolved over several cycles of the OECD Programme for International Student Assessment (PISA). It identifies the policies and practices that can help disadvantaged students succeed academically and feel more engaged at school. Using longitudinal data from five countries (Australia, Canada, Denmark, Switzerland, and the United States), the report also describes the links between a student's performance near the end of compulsory education and upward social mobility - i.e. attaining a higher level of education or working in a higher-status job than one's parents.

Download or read book The Knowledge Capital of Nations written by Eric A. Hanushek and published by MIT Press. This book was released on 2023-08-15 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.