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About this book
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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Table of contents (10 chapters)
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Front Matter
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Introduction
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The Foundation of Public Economic Policy
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Front Matter
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How Much Should the Government Spend?
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Front Matter
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Back Matter
Authors and Affiliations
About the author
YEW-KWANG NG holds a personal chair in economics at Monash University and is a fellow of the Academy of Social Sciences in Australia. His main publications include Welfare Economics (1979), Mesoeconomics: A Micro-Macro Analysis (1986), Social Welfare and Economic Policy (1990), Specialization and Economic Organization (1993, with X.Yang), `Towards Welfare Biology', Biology and Philosophy (1995), and Increasing Returns and Economic Analysis (1998, with K.Arrow and X.Yang).
Bibliographic Information
Book Title: Efficiency, Equality and Public Policy
Book Subtitle: With A Case for Higher Public Spending
Authors: Yew-Kwang Ng
DOI: https://doi.org/10.1057/9780333992777
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 2000
Hardcover ISBN: 978-0-333-67165-8Published: 19 April 2000
eBook ISBN: 978-0-333-99277-7Published: 19 April 2000
Edition Number: 1
Number of Pages: X, 189
Topics: Social Choice/Welfare Economics/Public Choice/Political Economy, Public Finance, Public Policy