Equality and Efficiency: The Big Tradeoff [Arthur M Okun] on *FREE * shipping on qualifying offers. Book by Arthur M Okun. Equality and Efficiency has ratings and 9 reviews. Sagar said: Okun clarifies the issues surrounding the tradeoff between equality and efficiency, ra. Equality and Efficiency: The Big Tradeoff. By Arthur M. Okun. (Washington, D.C.: The Brookings Institution, Pp. $) – Volume 71 Issue 2 – Aaron.
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Considering this, I think that this book is definitely worth revisiting especially considering the very pragmatic way that Okun approaches the subject.
Dec 24, Hanna rated it it was amazing. But within the existing system there are ways to gain more of one good thing at a lower cost in terms of the other. This book brings the two together nicely, once again captured in the very title of Okun’s book.
Account Options Sign in. With a new foreword by Lawrence H.
Dec 04, Zahwil rated it really liked it. Want to Read Currently Reading Read. Contemporary American society has the look of a split-level structure. Return to Book Eqaulity. This mixture of equal rights and unequal economic status breeds tensions between the political principles of democracy and the economic principles of capitalism.
Paperbackpages. Contents Efficiench and Dollars. Kind of basic though. Known for his wit as well as his compassion, Okun reacted to surging inflation in the s by developing an economic indicator equalitu dubbed the Misery Indexwhich charted the well-being of Americans by combining the unemployment rate and inflation rate.
Today, Okun’s dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. Arthur Melvin Okun is widely considered among the most important macroeconomists of the twentieth century. If you’re interested in development policy, start with Sen’s “Development As Freedom.
At the same time, the efficiencies of the market as an allocative mechanism are not lost on Okun; hence the title of his book. Which transactions should be excluded from markets, such effuciency basic freedoms the right to survivalvotes, etc. While this was written 40 years ago, the challenges between equality and efficiency is one that continues to bedevil us, and has recently returned to to forefront of discussion.
Refresh and try again. Okun explores the conflicts that arise when society’s desire to reduce inequality would impair economic efficiency, confronting policymakers with “the big tradeoff.
Inhe cofounded, with George Perry, the Brookings Papers on Economic Activity BPEAwhich is still among the world’s most prestigious economic journals and currently boasts sixteen Nobel Prize winners among its authors.
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It’s like if Huntington had subtitled “Clash of Civilizations” something like “how cultural differences lead to big wars. Scott rated it it was amazing Jul 11, My library Help Advanced Book Search. David Robertus rated it it was amazing Feb 04, Okun makes several policy recommendations, of which my favorite is a broadening of the tax base, to destroy loopholes that were never intended by legislators such as the use of trusts to skip a generation of estate taxesand disposing of the preferential lower rates afforded to capital gains and dividends which Okun reminds us are disproportionately earned by the affluent.
Okun is a champion for equality, differing from his many conservative colleagues in the economics profession such as Milton Friedmen. To see what your friends thought of this book, please sign up.
In contrast, our basic system emerges as a viable, if uneasy, compromise in which the market has its bug and democratic institutions keep it in check. Be the first to ask a question about Equality and Efficiency. Books by Arthur M. In his foreword, Lawrence H. Rather than the simple and overly reductive memory I had from the foil that the title has become, I found the book to be thoughtful, nuanced, more modern than I expected or we have progressed less than I had thoughtand it actually affected my thinking somewhat.
Tom Bice rated it liked it Sep 08, The existance of a trade-off between equality and efficiency should eficiency a much bigger part of the debate in economics.
No trivia or quizzes yet. Okun is today remembered as an effective mediator between the realms of economic theory and analysis and the development and implementation of public policy. And this new edition includes “Further Thoughts on Equality and Efficiency,” tgadeoff paper published by the author two years later. In this realm, Equality and Efficiency: Very interesting book, written back in the s, and still relevant.
This book was originally written in the mid’s but could just as easily been written yesterday. Okun Snippet view feficiency Jerrodm rated it it was amazing Jun anf, In classrooms Arthur M. A must-read for everyone interested in social sciences.
Okun clarifies the issues surrounding the tradeoff between equality and efficiency, rather than taking a firm position on the issue of how much society should exchange one for the other.