This book grew out of research funded by the Montana Department of Labor and Industry. This study will argue that the distinction between "economic values" and "social values" such as the "quality of life" is a misleading and dangerous distinction. There is nothing especially ethereal or spiritual or "noneconomic" about the quality of life (QOL). Similarly there is nothing especially "material", practical" or "economic" about job opportunities or money prices.
Table of Contents
ECONOMICS AND THE QUALITY OF LIFE 2. INTERPRETING WAGE DIFFERENTIALS AS MEASURES OF DIFFERENTIALLY VALUED QUALITIES OF LIFE, I. ECONOMICS AND THE QUALITY OF LIFE 3. THE THEORY OF COMPENSATING WAGE DIFFERENTIALS: A FORMAL ANALYSIS 4. THE SIZE OF COMPENSATING WAGE DIFFERENTIALS AND AN APPLICATION 5. DIRECT MEASURES OF THE VALUE OF THE QUALITY OF LIFE 6. VALUES, ECONOMIC VALUES, AND THE LIMITS OF ECONOMIC ANALYSIS 7. ECONOMICS, ECONOMIC GROWTH, AND ECONOMIC WELL BEING
Thomas M. Power