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Efficiency, Equality and Public Policy: With a Case for Higher Public Spending

Efficiency, Equality and Public Policy: With a Case for Higher Public Spending

Hardcover

EconomicsGeneral Political Science

ISBN10: 0333671651
ISBN13: 9780333671658
Publisher: Springer Nature
Published: Apr 19 2000
Pages: 189
Weight: 0.89
Height: 0.63 Width: 5.50 Depth: 8.50
Language: English
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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