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Klappentext A user-friendly reinterpretation of market failure! using a wide range of modern techniques and perspectives. Zusammenfassung The persistence of market failures and the full range of issues connected to public intervention and regulation! presented in impressive scope with coverage in both technical and intuitive terms. Inhaltsverzeichnis 1. Introduction; Part I. Defining Social Preferences: 2. Individual preferences and social preferences; 3. The Pareto principle and 'new welfare economics'; Part II. Social Choices, Government and the Market: 4. Theories of justice, welfare functions and the social optimum; 5. Social preferences and institutions; 6. Market failures: microeconomic aspects; 7. Market failures: macroeconomic aspects; Part III. Normative and Positive Theory of Economic Policy: 8. The normative theory of economic policy; 9. 'Non-market' failures: elements of a positive theory of economic policy; Part IV. Microeconomic Intervention: 10. Microeconomic policies for efficiency; 11. Redistributive policies and optimal taxation; 12. Social choice and cost-benefit analysis; Part V. Macroeconomic Intervention in a Closed Economy: 13. Macroeconomic objectives and monetary policy; 14. Macroeconomic objectives and fiscal policy; 15. Incomes and price policies; Part VI. Macroeconomic Intervention in an Open Economy: 16. Monetary systems and exchange rate regimes; 17. Balance of payments policies; 18. Economic policies in an open economy; Part VII. Problems of 'Regime' in Government Action, Domestic and International: 19. Consistency in public choice; Index; References.
