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Markets, State, and People - Economics for Public Policy (Hardcover)
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Markets, State, and People - Economics for Public Policy (Hardcover)
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A textbook that examines how societies reach decisions about the
use and allocation of economic resources While economic research
emphasizes the importance of governmental institutions for growth
and progress, conventional public policy textbooks tend to focus on
macroeconomic policies and on tax-and-spend decisions. Markets,
State, and People stresses the basics of welfare economics and the
interplay between individual and collective choices. It fills a gap
by showing how economic theory relates to current policy questions,
with a look at incentives, institutions, and efficiency. How should
resources in society be allocated for the most economically
efficient outcomes, and how does this sit with society's sense of
fairness? Diane Coyle illustrates the ways economic ideas are the
product of their historical context, and how events in turn shape
economic thought. She includes many real-world examples of
policies, both good and bad. Readers will learn that there are no
panaceas for policy problems, but there is a practical set of
theories and empirical findings that can help policymakers navigate
dilemmas and trade-offs. The decisions faced by officials or
politicians are never easy, but economic insights can clarify the
choices to be made and the evidence that informs those choices.
Coyle covers issues such as digital markets and competition policy,
environmental policy, regulatory assessments, public-private
partnerships, nudge policies, universal basic income, and much
more. Markets, State, and People offers a new way of approaching
public economics. A focus on markets and institutions Policy ideas
in historical context Real-world examples How economic theory helps
policymakers tackle dilemmas and choices
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