Quiet Revolution in Welfare Economics (Princeton Legacy Library, 5028) - Hardcover
This ambitious work presents a critique of traditional welfare theory and proposes a new approach to it. Radical economists Robin Hahnel and Michael Albert argue that an improved theory of social welfare can consolidate and extend recent advances in microeconomic theory, and generate exciting new results as well. The authors show that once the traditional "welfare paradigm" is appropriately modified, a revitalized welfare theory can clarify the relationship between individual and social rationalitya task that continues to be of interest to mainstream and nonmainstream economists alike. Hahnel and Albert show how recent work in the theory of the labor process, externalities, public goods, and endogenous preferences can advance research in welfare theory. In a series of important theorems, the authors extend the concept of Pareto optimality to dynamic contexts with changing preferences and thus highlight the importance of institutional bias. This discussion provides the basis for further analysis of the properties and consequences of private and public enterprise and of markets and central planning. Not surprisingly, Hahnel and Albert reach a number of conclusions at odds with conventional wisdom.
Originally published in 1990.
The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
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- PublisherPrinceton University Press
- Publication date1990
- ISBN 10 0691042527
- ISBN 13 9780691042527
- BindingHardcover
- Edition number1
- Number of pages452
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Quiet Revolution in Welfare Economics (Princeton Legacy Library, 5028)
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Princeton University Press
(1990)
ISBN 10: 0691042527
ISBN 13: 9780691042527
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Quiet Revolution in Welfare Economics (Princeton Legacy Library, 5028)
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(1990)
ISBN 10: 0691042527
ISBN 13: 9780691042527
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Book Description Condition: Acceptable. Used - Acceptable. Dust cover damaged. Your purchase helps support Sri Lankan Children's Charity 'The Rainbow Centre'. Ex-library with wear and barcode page may have been removed. Our donations to The Rainbow Centre have helped provide an education and a safe haven to hundreds of children who live in appalling conditions. Seller Inventory # Z1-C-042-02846
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Quiet Revolution in Welfare Economics
Published by
Princeton University Press, Princeton, NJ
(1990)
ISBN 10: 0691042527
ISBN 13: 9780691042527
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Hardcover
Quantity: 1
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Book Description Cloth. Condition: Very Good. 440 pp. Tightly bound. Corners not bumped. Text is free of markings. Note: This book is from a smoker's library. Seller Inventory # 053943
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