1st Edition
Economic Efficiency and Social Welfare (Routledge Revivals) Selected Essays on Fundamental Aspects of the Economic Theory of Social Welfare
PART 1: ECONOMIC CRITERIA 1. A Reappraisal of the Principles of Resource Allocation 2. Second thoughts on Second Best 3. The Recent Debate on Welfare Criteria 4. Welfare Criteria: Resolution of a Paradox 5. Economic Criteria for Intergenerational Comparisons PART 2: ECONOMIC RENT OR SURPLUS 6. The Plain Truth About Consumer Surplus 7. Rent as a Measure of Welfare Change 8. What is Producer’s Surplus? PART 3: EXTERNALITIES 9. Evaluation of Life and Limb: A Theoretical Approach 10. Interpretation of the Benefits of Private Transport 11. Pareto Optimality and the Law 12. What is the Optimal Level of Pollution? 13. The Postwar Literature on Externalities: An Interpretive Essay PART 4: PROJECT EVALUATION 14. Flexibility and Consistency in Project Evaluation 15. The Use of Compensating and Equivalent Variations in Cost-Benefit Analysis 16. The Nature of Economics Expertise Reconsidered 17. The Use of DPV in Public Investment Criteria: A Critique 18. The Difficulty in Evaluating Long-lived Projects PART 5: REFLECTIONS ON ECONOMIC EFFICIENCY AND SOCIAL WELFARE 19. What is Wrong With Roskill? 20. The Folklore of the Market: An Inquiry into the Economic Doctrines of the Chicago School 21. Do Economic Evaluations of Allocative Changes Have Any Validity in the West Today? 22. Whatever Happened to Progress?
Biography
E Mishan
