Richard Layard is one of Britain's foremost applied economists,
whose work has had a profound impact on the policy debate in
Britain and abroad. This book contains his most influential
articles on education, equality and income distribution and on the
lessons of economic transition in Eastern Europe. It is published
along with a companion volume. Inequality argues that lifetime
inequality is the basic inequality we should worry about. In this
context education is a powerful instrument of redistribution, as
well as a national investment. Cash redistribution has efficiency
costs which can be calculated, but it may also serve to discourage
inefficient over-work arising from each person's efforts to earn
more than his neighbour. A final series of essays is based on
Layard's recent work on reform strategies in Russia and Poland. The
book opens with Richard Layard's personal credo 'Why I became an
economist'.
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