haku: @author Hammond, P. J. / yhteensä: 4
viite: 1 / 4
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| Tekijä: | Hammond, P. J. |
| Otsikko: | Theoretical progress in public economics: A provocative assessment |
| Lehti: | Oxford Economic Papers
1990 : JAN, VOL. 42:1, p. 6-33 |
| Asiasana: | ECONOMICS ECONOMIC THEORY MARKETS MONETARY ECONOMICS ECONOMETRICS |
| Kieli: | eng |
| Tiivistelmä: | It is stated that the invisible hand (market) is blind to injustice and the efficiency theorem is criticized. The main problem is with rationing, non-linear pricing, taxation and other forms of interference with free markets, that often individuals will try to circumvent the "official" pricing or rationing system and trade in the "informal" economy instead. Then come intermonetary comparisons of gains and losses of the market mechanism. The conclusion is drawn that few worthwhile changes are too small. Instead of that a new theory, the surplus economics (and econometrics) is delivered. |
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