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Author: Michael Albert Publisher: Princeton University Press ISBN: 1400887054 Category : Business & Economics Languages : en Pages : 454
Book Description
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: Michael Albert Publisher: Princeton University Press ISBN: 1400887054 Category : Business & Economics Languages : en Pages : 454
Book Description
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: László Zsolnai Publisher: Peter Lang ISBN: 9783039107032 Category : Business & Economics Languages : en Pages : 344
Book Description
The book explores the Deep Ecology perspective and Buddhist Economics for transforming business toward a more ecological and human form. It argues that ecology and ethics provide limits for business within which business is legitimate and productive. By transgressing ecological and ethical limits business activities become destructive and self-defeating. Today's business model is based on and cultivates narrow self-centeredness. Both Deep Ecology and Buddhist Economics point out that emphasizing individuality and promoting the greatest fulfillment of the desires of the individual conjointly lead to destruction. Happiness is linked to wholeness, not to personal wealth. We need to find new ways of doing business, ways that respect the ecological and ethical limits of business activities. Acting within limits provides the hope and promise of contributing to the preservation and enrichment of the world.
Author: Douglas W. Allen Publisher: University of Chicago Press ISBN: 0226014762 Category : History Languages : en Pages : 282
Book Description
Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions. In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.
Author: Y. Ng Publisher: Springer ISBN: 1403944067 Category : Business & Economics Languages : en Pages : 355
Book Description
Yew-Kwang Ng looks to make welfare economics more complete by discussing the recent inframarginal analysis of division of labour and by pushing welfare economics from the level of preference to that of happiness, making a reformulation of the foundation of public policy necessary. A theory of the third best is provided, with extension to the equality/efficiency issue. The remarkable conclusion of treating a dollar as a dollar provides a powerful simplification of public policy formulation in general and in cost-benefit analysis in particular.
Author: Michael Albert Publisher: South End Press ISBN: 9780896084056 Category : Comparative economics Languages : en Pages : 172
Book Description
How work can be organized efficiently and productively without hierarchy; how consumption could be fulfilling and also equitable; and how participatory is planning could promote solidarity and foster self-management.
Author: Massimo Florio Publisher: Taylor & Francis ISBN: 1000633179 Category : Business & Economics Languages : en Pages : 350
Book Description
Applied Welfare Economics: Cost-Benefit Analysis for Project and Policy Evaluation presents a consistent framework for applied welfare economics and is grounded in a comprehensive theory of cost-benefit analysis, specifically focused on offering a practical approach to policy and project evaluation. After opening with a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduces readers to an applied framework. This includes the empirical estimation of shadow prices of goods, the social cost of labour and capital, and the assessment of risk. The book also examines real-life experiences with cost-benefit analysis, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation. These chapters draw on first-hand research gained by the author team from years of advisory work for the European Commission and other international and national institutions. This second edition presents updated data, more international examples, and more coverage of topics such as very long run discounting effects and climate change as an intergenerational effect. It also includes more practical examples and end-of-chapter questions to aid student’s learning. Applied Welfare Economics is a valuable textbook for upper-level courses on welfare economics, cost-benefit analysis, public policy analysis and related areas.
Author: Vishaal Kishore Publisher: Anthem Press ISBN: 1783082992 Category : Political Science Languages : en Pages : 222
Book Description
‘Ricardo’s Gauntlet’ advances a critique of the mainstream economic case for international free trade. While the core of the case for free trade is David Ricardo’s principle of comparative advantage, the book argues that this case relies on a cluster of interconnected and mutually enforcing ‘economic fictions’ – economic theories or doctrines that pretend to be fact but which upon examination turn out to be mirages. Exposing the layers of fictions nested in the subfields of mainstream economies empties comparative advantage of its persuasiveness, bringing down the case for free trade. This book is not, however, confined to dealing with esoteric puzzles within economic theory. Rather, it takes a social theoretical perspective and grapples with comparative advantage and its associated economic fictions as ideas that ground an argument with social currency, social validity and social effects. While ‘Ricardo’s Gauntlet’ engages in economic debates, it does so with the purpose of demonstrating the fragility of mainstream economic ideology and the flaw at the heart of its justification of free trade. Proposing a novel disaggregation of the case for free trade into its component fictions – and drawing on and uniting heterodox and radical strands including social theory and political philosophy – ‘Ricardo’s Gauntlet’ reveals that the case for free trade fails precisely on its own terms. This failure unnecessarily and dangerously limits our understanding of what is right and wrong, with high sociopolitical stakes.
Author: Sarah Owen Vandersluis Publisher: Springer ISBN: 1403943788 Category : Political Science Languages : en Pages : 233
Book Description
Sarah Owen Vandersluis critically examines approaches to cultural policy within the global economy. This study taps into the growing debate on ethical theory and International Political Economy. It challenges the normative positions of nationalists and welfare economists, before developing an alternative communitarian ethics for cultural policy in a global economy. The study concludes with an examination of the practical implications of this ethics in several case studies.
Author: Joseph Hanlon Publisher: Kumarian Press ISBN: 1565493907 Category : Business & Economics Languages : en Pages : 233
Book Description
* Argues strongly for overlooked approach to development by showing how the poor use money in ways that confound stereotypical notions of aid and handouts * Team authored by foremost scholars in the development field Amid all the complicated economic theories about the causes and solutions to poverty, one idea is so basic it seems radical: just give money to the poor. Despite its skeptics, researchers have found again and again that cash transfers given to significant portions of the population transform the lives of recipients. Countries from Mexico to South Africa to Indonesia are giving money directly to the poor and discovering that they use it wisely “ to send their children to school, to start a business and to feed their families. Directly challenging an aid industry that thrives on complexity and mystification, with highly paid consultants designing ever more complicated projects, Just Give Money to the Pooroffers the elegant southern alternative “ bypass governments and NGOs and let the poor decide how to use their money. Stressing that cash transfers are not charity or a safety net, the authors draw an outline of effective practices that work precisely because they are regular, guaranteed and fair. This book, the first to report on this quiet revolution in an accessible way, is essential reading for policymakers, students of international development and anyone yearning for an alternative to traditional poverty-alleviation methods.
Author: Michael Albert
Author: Michael Albert
Author: László Zsolnai
Author: Arthur Cecil Pigou
Author: Douglas W. Allen
Author: Y. Ng
Author: Michael Albert
Author: Massimo Florio
Author: Vishaal Kishore
Author: Sarah Owen Vandersluis
Author: Joseph Hanlon