May 8, 2020

Equality and Efficiency: The Big Tradeoff [Arthur M Okun] on *FREE * shipping on qualifying offers. Book by Arthur M Okun. Equality and Efficiency has ratings and 9 reviews. Sagar said: Okun clarifies the issues surrounding the tradeoff between equality and efficiency, ra. Equality and Efficiency: The Big Tradeoff. By Arthur M. Okun. (Washington, D.C.: The Brookings Institution, Pp. $) – Volume 71 Issue 2 – Aaron.

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In Okun’s view, society’s concern for human dignity can be directed tradeofd reducing the economic deprivation that stains the record of American democracy—through progressive taxation, transfer payments, job programs, broadening equality of opportunity, eliminating racial and sexual discrimination, and lowering barriers to access to capital.

Equality and Efficiency: The Big Tradeoff – Arthur M. Okun – Google Books

Contemporary American society has the look of a split-level structure. The Case for the Market. Thanks for telling us about the problem. In the years since, Okun’s idea of indexing misery has been both repurposed and refined to track happiness and well-being across all sorts of indicators.

Louis rated it liked it Sep 08, If you’re interested in I have to say, the word “big” strikes me as just a little bit juvenile in a context like, say, the subtitle of a “serious” book.

Perhaps the reason I best liked this book is the bridge it creates between often disparate fields of economics and moral philosophy. Was rather hoping for a more spirited point-of-view than this highly-academic elucidation of the issue.

To all readers, Okun presents an engaging dual theme: Okun Limited preview – Want to Read saving…. Which transactions should be excluded from markets, such as basic freedoms the right to survivalvotes, etc.

Extremely well-written and to the point on balancing equality and efficiency to reach whatever flavor of policy you prefer.

M rated it it was amazing Aug 19, Yet economic institutions, with efficiency as their guiding principle, create disparities among citizens in living standards and material welfare. In this revised and expanded version of the Godkin Lectures presented at the John F. Goodreads helps you keep track of books you want to read. In the s he served as a senior economist, member, and, finally, as chairman of the Council of Economic Advisers in the Kennedy and Johnson administrations. To see what your friends thought of this book, please sign up.


Equality and Efficiency: The Big Tradeoff by Arthur M. Okun

Tawney Rawls redistribution reform rewards rich saving and investment society standard tax rates tion transfer transgression unequal vote wages welfare workers. Common terms and phrases American assets attitudes average basic benefits billion Brookings Institution capital capitalist chapter citizens coercion collectivized competitive Constitution of Liberty consumer contribution costs deprivation differentials discrimination discussion dollars domain of rights earnings economic inequality economists effects effort egalitarian Equality and Efficiency equality of income equality of opportunity ethical example fair family income federal financing freedom Hayek incentives income and wealth income distribution income tax individual inefficiency inequality of opportunity Irving Kristol issues John Rawls Karl Polanyi labor leakages leaky bucket legislators Lester Thurow liberty marginal product market ethic marketplace Milton Friedman nation Okun ownership percent political process poor poverty poverty line preference for equality principle prizes programs progressive taxation R.

Matt rated it really liked it May 03, This mixture of equal rights an Contemporary American society has the look of a split-level structure. Jerrodm rated it it was amazing Jun 18, Scott rated it it was amazing Jul 11, May 11, Brendan Cheney rated it liked it Shelves: I really liked the way that Okun presented the issue of having to balance social good with economic Very interesting book, written back in the s, and still relevant.

Just a moment while we sign you in to your Goodreads account. While this was written 40 years ago, the challenges between equality and efficiency is one that continues to bedevil us, and has recently returned to to forefront of discussion. Very interesting book, written back in the s, and still relevant.


Equality and Efficiency: The Big Tradeoff

His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. In his foreword, Lawrence H. On what one might think of as questions of “economic philosophy,” I doubt that Okun has been improved on in the subsequent interval.

Dec 24, Hanna rated it it was amazing.

Other editions – View all Equality and Efficiency: Minh rated it really liked it Nov 10, Preview — Equality and Efficiency by Arthur M.

Known for his wit as well as his compassion, Okun reacted to surging inflation in the s by developing an economic indicator he dubbed the Misery Indexwhich charted the well-being of Americans by combining the unemployment rate and inflation rate. In classrooms Arthur M. Books by Arthur M.

Dec 04, Zahwil rated it really liked it. To ask other readers questions about Equality and Efficiencyplease sign up.

Further Thoughts on Equality and Efficiency. Mehmet Ali Bayar rated it it was amazing Jan 27, Luke rated it it was amazing Sep 17, With regards to efficiency, the concept he invokes of the “leaky bucket” is both useful and memorable as a tool for thinking about redistribution from the rich to the poor.

In contrast, our basic system emerges as a viable, if uneasy, compromise in which the market has its place and democratic institutions keep it in check. Selected pages Title Page. Brent rated it really liked it Dec 20, Equality of Income and Opportunity.