Welfare Economics Towards a More Complete Analysis |
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| Author:
| Ng, Yew-Kwang |
| ISBN: | 978-0-333-97121-5 |
| Publication Date: | Dec 2003 |
| Publisher: | Palgrave Macmillan Limited
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| Book Format: | Hardback |
| List Price: | AUD $274.95 |
Book Description:
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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...
More DescriptionYew-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.