Efficiency, equality and public policy : with a case for higher public spending

著者

書誌事項

Efficiency, equality and public policy : with a case for higher public spending

Yew-Kwang Ng

Macmillan , St. Martin's Press, 2000

  • : uk
  • : us

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注記

2002 printing published: Baskingstoke : Palgrave Macmillan

Bibliography: p. 169-183

Includes indexes

内容説明・目次

巻冊次

: us ISBN 9780312232085

内容説明

This book provides a tremendous simplification in the formation of economic policies, in cost-benefit analysis in particular. It advances compelling arguments for the exclusive concern of 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. Interpersonal comparisons of welfares are needed for this latter efficiency/equality trade-off. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Economists overestimate the costs of public spending by emphasizing the excess burden of taxation, ignoring the offsetting effects on the spending side, the existence of environmental disruption effects and burden-free taxes on diamond goods. Relative-income effects cause a bias in favour of private consumption which is no longer conducive to social happiness.
巻冊次

: uk ISBN 9780333671658

内容説明

This book provides compelling 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 increased more by higher public spending on research and environmental protection, including the perfection of the techniques of brain stimulation to increase happiness.

目次

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

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