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Books > Social sciences > Sociology, social studies > Social welfare & social services > Welfare & benefit systems
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Quiet Revolution in Welfare Economics (Paperback)
Loot Price: R2,153
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Quiet Revolution in Welfare Economics (Paperback)
Series: Princeton Legacy Library
Expected to ship within 10 - 17 working days
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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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