The author explores what has been perhaps the central controversy in modern economics from Adam Smith to today. He traces the theory of market failure from the 1840s through the 1950s and subsequent attacks on this view by the Chicago and Virginia schools.
The author explores what has been perhaps the central controversy in modern economics from Adam Smith to today. He traces the theory of market failure from the 1840s through the 1950s and subsequent attacks on this view by the Chicago and Virginia schools.
Collective choice and social welfare
by Sen, Amartya
fromAdvanced Textbooks in Economics
This book is concerned with the study of collective preference, in particular with the relationship between the objectives of social action and the preferences and aspirations of society's members.
Collective choice and social welfare
by Sen, Amartya
fromAdvanced Textbooks in Economics
In this short and accessible book, Amy Finkelstein tackles the tricky question of moral hazard, which is the tendency to take risks when the cost will be borne by others. Kenneth J. Arrow's seminal 1963 paper, "Uncertainty and the Welfare Economics of Medical Care", included in …
In Well-Being and Fair Distribution: Beyond Cost-Benefit Analysis, author Matthew D. Adler provides readers with a comprehensive philosophically grounded argument for the use of social welfare functions as a framework for governmental policy analysis.
