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

by Ng, Yew-Kwang

Type Book

Rate 0.0 /5

Details

Files

Reviews

Download

Title Statements

Full title :Efficiency, equality and public policy : with a case for higher public spending / Yew-Kwang Ng.

Summary

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.

Edition Statements

Publication Date:2000.

Publication Statements

Publisher(s):MacMillan Press, St. Martin's Press
Place of Publication:Houndmills, Basingstoke, Hampshire
Language:eng
Publication Date:2000.

The Physical Object

Description:1 online resource (x, 189 pages) : : illustrations

Edition Identifiers

ISBN:0333992776, 9780333992777, 9780333671658, 0333671651, 9780312232085, 031223208X
DOI:10.1057/9780333992777
oclc:ocn559178064
LC Classification:H97
Dewey Decimal:338.9

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.

Subjects

BUSINESS & ECONOMICS -- Development BUSINESS & ECONOMICS -- Government & Bu… BUSINESS & ECONOMICS -- Structural Adju… Dépenses publiques -- Prise de décision Economic policy economische politiek Expenditures, Public -- Decision making Finance and Accounting Overheidsuitgaven Policy sciences POLITICAL SCIENCE -- Public Policy Politique économique Public finance Sciences de la politique Welvaartseconomie