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 Fairness Or Efficiency written by Edward E. Zajac and published by . This book was released on 1978 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fairness and Effectiveness in Policing written by National Research Council and published by National Academies Press. This book was released on 2004-05-06 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because police are the most visible face of government power for most citizens, they are expected to deal effectively with crime and disorder and to be impartial. Producing justice through the fair, and restrained use of their authority. The standards by which the public judges police success have become more exacting and challenging. Fairness and Effectiveness in Policing explores police work in the new century. It replaces myths with research findings and provides recommendations for updated policy and practices to guide it. The book provides answers to the most basic questions: What do police do? It reviews how police work is organized, explores the expanding responsibilities of police, examines the increasing diversity among police employees, and discusses the complex interactions between officers and citizens. It also addresses such topics as community policing, use of force, racial profiling, and evaluates the success of common police techniques, such as focusing on crime "hot spots." It goes on to look at the issue of legitimacyâ€"how the public gets information about police work, and how police are viewed by different groups, and how police can gain community trust. Fairness and Effectiveness in Policing will be important to anyone concerned about police work: policy makers, administrators, educators, police supervisors and officers, journalists, and interested citizens.

Download or read book Fairness and Efficiency in the Flat Tax written by Robert Ernest Hall and published by A E I Press. This book was released on 1996 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: These experts present a lively discussion of the pros and cons of the proposals for a flat tax, think through the likely effects of such a radical change, and make clear what can seem a confusing array of facts and figures.

Download or read book Fairness in Law and Economics written by Lee Anne Fennell and published by Edward Elgar Publishing. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one, this collection demonstrates the robust and diverse ways in which economics engages - and cannot avoid engaging - with fairness. Part I contains papers presenting positive analyses of fairness preferences and beliefs, which are fundamental means through which fairness matters for economic models. Part II turns to normative analysis and the broad question of how law should reconcile fairness and efficiency considerations. Part III presents a sampling of legal and policy applications in which both fairness and efficiency considerations prove important. Along with an original introduction by the editors this is a must-have volume that will appeal to students, academics and practitioners who are interested in this exciting field.

Download or read book On Fairness and Efficiency written by George Miller and published by Policy Press. This book was released on 2000 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a major new analysis of the political economy in Britain over the past 1,000 years. The author demonstrates an impressive and thorough knowledge of law, economics, politics, medicine and social history. The assessment of the privatisation of the public income and its consequences represents an astonishing tour-de-force.On fairness and efficiency:engages in a wide-ranging sweep of history from pre-Norman times to the present;gives a lucid explanation of the complex economic and political history of Britain that has given rise to the present state of Welfare Capitalism;has great contemporary relevance.·[vbTab]The fundamental links between the distributions of health and wealth in society is of concern to the medical profession, public health professionals, welfare economists, political scientists/politicians, moralists and philosophers.

Download or read book Fair Division and Collective Welfare written by Herve Moulin and published by MIT Press. This book was released on 2004-08-20 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of fair division is as old as civil society itself. Aristotle's "equal treatment of equals" was the first step toward a formal definition of distributive fairness. The concept of collective welfare, more than two centuries old, is a pillar of modern economic analysis. Reflecting fifty years of research, this book examines the contribution of modern microeconomic thinking to distributive justice. Taking the modern axiomatic approach, it compares normative arguments of distributive justice and their relation to efficiency and collective welfare. The book begins with the epistemological status of the axiomatic approach and the four classic principles of distributive justice: compensation, reward, exogenous rights, and fitness. It then presents the simple ideas of equal gains, equal losses, and proportional gains and losses. The book discusses three cardinal interpretations of collective welfare: Bentham's "utilitarian" proposal to maximize the sum of individual utilities, the Nash product, and the egalitarian leximin ordering. It also discusses the two main ordinal definitions of collective welfare: the majority relation and the Borda scoring method. The Shapley value is the single most important contribution of game theory to distributive justice. A formula to divide jointly produced costs or benefits fairly, it is especially useful when the pattern of externalities renders useless the simple ideas of equality and proportionality. The book ends with two versatile methods for dividing commodities efficiently and fairly when only ordinal preferences matter: competitive equilibrium with equal incomes and egalitarian equivalence. The book contains a wealth of empirical examples and exercises.

Download or read book Fairness in Law and Economics written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pitfalls in the Theory of Fairness written by Elisha Pazner and published by . This book was released on 1975 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economy Society and Public Policy written by The Core Team and published by Oxford University Press, USA. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economy, Society, and Public Policy is a new way to learn economics. It is designed specifically for students studying social sciences, public policy, business studies, engineering and other disciplines who want to understand how the economy works and how it can be made to work better. Topical policy problems are used to motivate learning of key concepts and methods of economics. It engages, challenges and empowers students, and will provide them with the tools to articulate reasoned views on pressing policy problems. This project is the result of a worldwide collaboration between researchers, educators, and students who are committed to bringing the socially relevant insights of economics to a broader audience.KEY FEATURESESPP does not teach microeconomics as a body of knowledge separate from macroeconomicsStudents begin their study of economics by understanding that the economy is situated within society and the biosphereStudents study problems of identifying causation, not just correlation, through the use of natural experiments, lab experiments, and other quantitative methodsSocial interactions, modelled using simple game theory, and incomplete information, modelled using a series of principal-agent problems, are introduced from the beginning. As a result, phenomena studied by the other social sciences such as social norms and the exercise of power play a roleThe insights of diverse schools of thought, from Marx and the classical economists to Hayek and Schumpeter, play an integral part in the bookThe way economists think about public policy is central to ESPP. This is introduced in Units 2 and 3, rather than later in the course.

Download or read book Fairness versus Welfare written by Louis Kaplow and published by Harvard University Press. This book was released on 2009-07-01 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: By what criteria should public policy be evaluated? Fairness and justice? Or the welfare of individuals? Debate over this fundamental question has spanned the ages. Fairness versus Welfare poses a bold challenge to contemporary moral philosophy by showing that most moral principles conflict more sharply with welfare than is generally recognized. In particular, the authors demonstrate that all principles that are not based exclusively on welfare will sometimes favor policies under which literally everyone would be worse off. The book draws on the work of moral philosophers, economists, evolutionary and cognitive psychologists, and legal academics to scrutinize a number of particular subjects that have engaged legal scholars and moral philosophers. How can the deeply problematic nature of all nonwelfarist principles be reconciled with our moral instincts and intuitions that support them? The authors offer a fascinating explanation of the origins of our moral instincts and intuitions, developing ideas originally advanced by Hume and Sidgwick and more recently explored by psychologists and evolutionary theorists. Their analysis indicates that most moral principles that seem appealing, upon examination, have a functional explanation, one that does not justify their being accorded independent weight in the assessment of public policy. Fairness versus Welfare has profound implications for the theory and practice of policy analysis and has already generated considerable debate in academia.

Download or read book Class Actions written by Jay Tidmarsh and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Social Fairness and Economics written by Lance Taylor and published by Routledge. This book was released on 2012 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: This landmark volume spans a wide range of economic approaches to social justice. Inspired by the work of Duncan Foley, and featuring many of the leading scholars in the field, the volume aims to open the discussion on a critical economic theory which values fairness and social justice.

Download or read book Efficiency and Equity in Welfare Economics written by Pier Carlo Nicola and published by Springer Science & Business Media. This book was released on 2012-08-31 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing efficiency in generating national income and improving equity in its distribution among economic agents is at the forefront of priorities of most modern economies. This book presents a model which aims to maximize a symmetrical welfare function under certain constraints which consider both efficiency and equity, i.e. taxes and subsidies, implemented by a public authority. The model is numerically implemented and considers a set of economic agents with starting incomes that satisfy Pareto income law under various values of the alpha parameter. Also, the model implementations respect the social production function. Various experiments are presented which show how income inequality (measured by means of the Lorenz curve and, what I call, the Lorenz-Gini inequality index) and measures of poverty are sensibly reduced by redistributing national income without lowering efficiency in production. A case study, or application, of Italian personal income in 2008 is also presented.

Download or read book Algorithmic Decision Theory written by Francesca Rossi and published by Springer. This book was released on 2009-10-13 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains the papers presented at ADT 2009, the first International Conference on Algorithmic Decision Theory. The conference was held in San Servolo, a small island of the Venice lagoon, during October 20-23, 2009. The program of the conference included oral presentations, posters, invited talks, and tutorials. The conference received 65 submissions of which 39 papers were accepted (9 papers were posters). The topics of these papers range from computational social choice preference modeling, from uncertainty to preference learning, from multi-criteria decision making to game theory.

Download or read book Free Market Fairness written by John Tomasi and published by Princeton University Press. This book was released on 2013-05-05 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: A provocative new vision of free market capitalism that achieves liberal ends by libertarian means Can libertarians care about social justice? In Free Market Fairness, John Tomasi argues that they can and should. Drawing simultaneously on moral insights from defenders of economic liberty such as F. A. Hayek and advocates of social justice such as John Rawls, Tomasi presents a new theory of liberal justice. This theory, free market fairness, is committed to both limited government and the material betterment of the poor. Unlike traditional libertarians, Tomasi argues that property rights are best defended not in terms of self-ownership or economic efficiency but as requirements of democratic legitimacy. At the same time, he encourages egalitarians concerned about social justice to listen more sympathetically to the claims ordinary citizens make about the importance of private economic liberty in their daily lives. In place of the familiar social democratic interpretations of social justice, Tomasi offers a "market democratic" conception of social justice: free market fairness. Tomasi argues that free market fairness, with its twin commitment to economic liberty and a fair distribution of goods and opportunities, is a morally superior account of liberal justice. Free market fairness is also a distinctively American ideal. It extends the notion, prominent in America's founding period, that protection of property and promotion of real opportunity are indivisible goals. Indeed, according to Tomasi, free market fairness is social justice, American style. Provocative and vigorously argued, Free Market Fairness offers a bold new way of thinking about politics, economics, and justice—one that will challenge readers on both the left and right.

Download or read book Researchonefficiencyandfairnessofresourcesallocationbychina sgovernmentaladministration written by Sheng Hong and published by World Scientific. This book was released on 2019-06-13 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: In China, the government controls a large part of resources, such as land, energy, bank savings, and so on. This book studies the efficiency and fairness of resources allocation by governmental administration in China. The book states that it is neither fair nor efficient to allocate resources by the governmental administrations. These resources should be allocated by the market.The book analyzes the resources allocation by government administration in three key areas namely education, health care, and land. A quantitive analysis is developed for describing more precisely the situation of unfairness in fiscal resources allocation. This book also describes how ordinary people address the misposition of resources by governmental administrations by migrating from the provinces with less resources to the provinces with more resources in education or health care. Thus, the book concludes that the actual allocation of resources is determined by the interactions between ordinary people and the government.