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Efficiency, Equality and Public Policy

Efficiency, Equality and Public Policy PDF Author: Y. Ng
Publisher: Springer
ISBN: 0333992776
Category : Business & Economics
Languages : en
Pages : 189

Book Description
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.
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