Information, Strategy and Public Policy (Stevenson Lecture Series)
Language: English
Published by Blackwell Pub, 1991
- Hardcover
- New
Seller: Revaluation Books, Exeter, United KingdomRevaluation Books
AbeBooks seller since January 6, 2003
Condition: New
£ 32.38
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Add to basketItem description from seller
224 pages. 9.25x6.00x0.75 inches. In Stock.
Seller Inventory # __0631176934
- Title
- Information, Strategy and Public Policy (Stevenson Lecture Series)
- Author
- Vines, David/ Stevenson, Andrew A. (Editor)
- Publisher
- Blackwell Pub
- Publication year
- 1991
- Condition
- Brand New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0631176934
- ISBN 13
- 9780631176930
- Item weight
- 0.44 kilograms
In this volume, some of the world’s finest economists address a theme which is once again at the heart of both economic theory and international economic policy, namely the appropriate role for policy in a market economy. Can Adam Smith’s ‘invisible hand’ mechanism be expected to allocate resources efficiently to meet the needs of society and is the role of government therefore limited at best? The authors draw on recent theoretical advances in the study of imperfect information and strategic behaviour to argue that the models of classical welfare economics are insufficient as a framework for understanding modern market economics.
The first two chapters by Joseph Stiglitz and Frank Hahn represent assaults on the fundamental theorems of welfare economics: the notion of pareto-efficiency and the ability of the price mechanism to achieve it. Taking this as their lead, subsequent chapters focus on specific examples of market failure – the environment, the peristence of high levels of unemploement and the strategic behaviour of governments in the making of international economic policy.
The book represents a remarkable and accessible insight into the dilemmas of modern economics. It also demonstrates the fundamental role economic analysis has to play in the understanding of real problems and the formulation of appropriate policy.
Contributors
Partha Dasgupta Cambridge University and Stanford University
Frank Hahn Cambridge University
Edmond Malinvaud College de France
Kenneth Rogoff University of California at Berkeley
Andrew A. Stevenson University of Glasgow
Joseph E. Stiglitz Stanford University
David Vines University of Glasgow
"Synopsis" may belong to another edition of this title.
About the Author
David Vines is Adam Smith Professor and Andrew Stevenson is senior lecturer in Economics at the University of Glasgow.
"About the title" may belong to another edition of this title.
Revaluation Books
Exeter, United Kingdom
AbeBooks seller since January 6, 2003
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Edward Bowditch Ltd
Exstowe, Exton
Exeter, United Kingdom EX3 0PP
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