Description
Introduction to Political Economy (Routledge Revivals)
Routledge Revivals Series
Author: Mishan E.
Language: EnglishSubject for Introduction to Political Economy (Routledge Revivals):
Keywords
normative; economics; partial; economic; context; marginal; cost; valuation; curve; pareto; Vice Versa; Marginal Factor Cost; Marginal Valuation Curve; Partial Economic Context; Marginal Cost Pricing Rule; Partial Economic Analysis; Output OQ; Persons A; Pareto Criterion; Transformation Curve; Marginal Cost Curve; Ethical Consensus; Supply Curve; Actual Pareto Improvement; Consumer Surplus; Nonoptimal Position; Net Social Benefit; Potential Pareto Improvement; Jones Effect; Contract Curve; General Economic Context; Equilibrium Output; Unchanging Tastes; Optimal Outputs; Social Marginal Cost Curve
Publication date: 09-2012
Support: Print on demand
Publication date: 08-2011
Support: Print on demand
Description
/li>Contents
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Part One: The agenda of the political economy 1. Introductory observations 2. The resistance to a prescriptive economics 3. The nature of the economist’s efficiency criterion 4. The rationale of the economist’s efficiency criterion 5. Things to come: a preview 6. The basic economic assumptions Part Two: Allocation within a partial economic context 7. Uses and limitations of a partial economic context 8. The key concepts of social value and social opportunity cost 9. Consumer surplus: a measure of welfare change 10. The difficulty of measuring rent 11. The allocative virtues of a competitive economy 12. Marginal cost pricing 13. Second best and third best Part Three: Collective goods and bads 14. Can the market cope with externalities? 15. Diminishing returns to agriculture as an instance of externalities 16. Environmental spillovers: what difference does the law make? 17. Non-environmental spillovers: some ethical questions 18. Favourable spillovers and collective goods Part Four: Resource allocation within a general context 19. Uses of a general economic context 20. Optimality for the economy 21. What is an efficient distribution of goods? 22. Economic efficiency: a paradox 23. Pareto optimality: an empty vessel 24. Resolving the apparent paradox Part Five: Sources of economic failure in a technological age 25. Introductory remarks 26. The folklore of the market 1 27. The folklore of the market 2 28. Economic expertise in an age of rapid innovation 29. The limits of abundance: a conservative critique 1 30. The limits of abundance: a conservative critique 2 31. Concluding remarks