Journal ArticleDOI
Efficiency, Distribution, and the Role of Government in a Market Economy
TLDR
This paper explored the normative implications for government action of the presumption that factors are"entitled" to their marginal product, and concluded that imperfections in knowledge, mobility, and competition should be removed by court action as a matter of distributive justice, and that collective goods including income redistribution should be paid for by those who demand the goods.Abstract:
To evaluate government programs, it is necessary to say what individuals are "entitled" to in regard to wealth distribution. This paper explores the normative implications for government action of the presumption that factors are"entitled" to their marginal product. The conclusions are that imperfections in knowledge, mobility, and competition should be removed by court action as a matter of distributive justice, and that collective goods, including income redistribution, should be paid for by those who demand the goods. Compensation is appropriate when government changes the rules it has itself imposed or when it recognizes new property rights where they did not formerly exist.read more
Citations
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Journal ArticleDOI
Lotka's frequency distribution of scientific productivity
TL;DR: Investigators studying the applicability of “Lotka's law” to the humanities and to map librarianship may have misinterpreted Lotka's Law and concluded erroneously that the law applies to these fields.
Journal ArticleDOI
War and strong states, peace and weak states?
TL;DR: In this article, the authors suggest that the end of the cold war may represent a "threat trough", a period of significantly reduced international security competition, and that the scope and cohesion of many states may also change.
Journal ArticleDOI
An evaluation of cost-benefit analysis criteria*
Journal ArticleDOI
Objectives of public economic policy and the adaptation to climate change.
Stine Aakre,Dirk T. G. Rübbelke +1 more
TL;DR: In this article, the authors employ a public economic policy approach to investigate how or if at all climate adaptation should be supported by the public sector and propose ways in which government intervention could be conducted.
References
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Book
The Problem of Social Cost
TL;DR: In this paper, it is argued that the suggested courses of action are inappropriate, in that they lead to results which are not necessarily, or even usually, desirable, and therefore, it is recommended to exclude the factory from residential districts (and presumably from other areas in which the emission of smoke would have harmful effects on others).
Posted Content
From Principles of Political Economy
TL;DR: In this paper, the following sections are included: Of Co-operation, or The Combination of Labor of Production on a Large, and production on a Small Scale, and of Cooperation and Cooperation of Labor
Book
Principles of Political Economy
TL;DR: The subject of Wealth has in all ages always constituted one of the chief practical interests of mankind, and, in some cases, a most unduly engrossing one as discussed by the authors.
Journal ArticleDOI
Welfare Propositions of Economics and Interpersonal Comparisons of Utility
TL;DR: The Kaldor-Hicks efficiency criterion as mentioned in this paper is a measure of the capacity of an economy to satisfy preferences that does not require interpersonal comparisons or any judgment concerning the justice of different distributions.