How do you gauge the accomplishments of policy and its failures?
While a number of nations are successful in optimizing a
socio-economic welfare function, others are woefully falling short
of the optimal frontier. Diagnostics for a Globalized World
proposes a reformulation of the inherited theory of economic and
social policy (codified in the 1950s by Jan Tinbergen) to find a
diagnostic tool in measuring the effectiveness of economic and
social policy. Using a logarithmic adaptation of data envelopment
analysis, the authors explain how to rank the attainment of nations
of multidimensional goals such as those expressed by the UN
Millennium Development Goals (MDGs) and upcoming Sustainable
Development Goals (SDGs).
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