Book description

Efficiency, Equality and Public Policy provides compelling arguments for the exclusive concern with efficiency in all specific areas of public economic policy, leaving the objective of equality to be achieved through the general tax/transfer system. Public policies, the author argues, should ultimately maximize the sum of individual welfare that should be individual happiness rather than preferences. The flip side is that relative-income and environmental disruption effects cause a bias in favour of private spending that is no longer conducive to social happiness.

Yew-Kwang Ng is Professor in the Department of Economics at Monash University. His research interests include welfare economics, mesoeconomics, new classical economics, Chinese economic reform and public policy.

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