Public Goods in Everyday Life
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What Equilibrium Concept for Public Goods Provision? I - the Convex Case
Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision ? I - The convex case Monique Florenzano To cite this version: Monique Florenzano. Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision ? I - The convex case. 2009. halshs-00367867 HAL Id: halshs-00367867 https://halshs.archives-ouvertes.fr/halshs-00367867 Submitted on 12 Mar 2009 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Documents de Travail du Centre d’Economie de la Sorbonne Walras—Lindahl—Wicksell : What equilibrium concept for public goods provision ? I – The convex case Monique FLORENZANO 2009.09 Maison des Sciences Économiques, 106-112 boulevard de L'Hôpital, 75647 Paris Cedex 13 http://ces.univ-paris1.fr/cesdp/CES-docs.htm ISSN : 1955-611X WALRAS–LINDAHL–WICKSELL: WHAT EQUILIBRIUM CONCEPT FOR PUBLIC GOODS PROVISION? I - THE CONVEX CASE MONIQUE FLORENZANO Centre d’Economie de la Sorbonne, CNRS–Universit´eParis 1, monique.fl[email protected] Abstract. Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public goods. -
A Hayekian Theory of Social Justice
A HAYEKIAN THEORY OF SOCIAL JUSTICE Samuel Taylor Morison* As Justice gives every Man a Title to the product of his honest Industry, and the fair Acquisitions of his Ancestors descended to him; so Charity gives every Man a Title to so much of another’s Plenty, as will keep him from ex- tream want, where he has no means to subsist otherwise. – John Locke1 I. Introduction The purpose of this essay is to critically examine Friedrich Hayek’s broadside against the conceptual intelligibility of the theory of social or distributive justice. This theme first appears in Hayek’s work in his famous political tract, The Road to Serfdom (1944), and later in The Constitution of Liberty (1960), but he developed the argument at greatest length in his major work in political philosophy, the trilogy entitled Law, Legis- lation, and Liberty (1973-79). Given that Hayek subtitled the second volume of this work The Mirage of Social Justice,2 it might seem counterintuitive or perhaps even ab- surd to suggest the existence of a genuinely Hayekian theory of social justice. Not- withstanding the rhetorical tenor of some of his remarks, however, Hayek’s actual con- clusions are characteristically even-tempered, which, I shall argue, leaves open the possibility of a revisionist account of the matter. As Hayek understands the term, “social justice” usually refers to the inten- tional doling out of economic rewards by the government, “some pattern of remunera- tion based on the assessment of the performance or the needs of different individuals * Attorney-Advisor, Office of the Pardon Attorney, United States Department of Justice, Washington, D.C.; e- mail: [email protected]. -
A Critique of John Stuart Mill Chris Daly
Southern Illinois University Carbondale OpenSIUC Honors Theses University Honors Program 5-2002 The Boundaries of Liberalism in a Global Era: A Critique of John Stuart Mill Chris Daly Follow this and additional works at: http://opensiuc.lib.siu.edu/uhp_theses Recommended Citation Daly, Chris, "The Boundaries of Liberalism in a Global Era: A Critique of John Stuart Mill" (2002). Honors Theses. Paper 131. This Dissertation/Thesis is brought to you for free and open access by the University Honors Program at OpenSIUC. It has been accepted for inclusion in Honors Theses by an authorized administrator of OpenSIUC. For more information, please contact [email protected]. r The Boundaries of Liberalism in a Global Era: A Critique of John Stuart Mill Chris Daly May 8, 2002 r ABSTRACT The following study exanunes three works of John Stuart Mill, On Liberty, Utilitarianism, and Three Essays on Religion, and their subsequent effects on liberalism. Comparing the notion on individual freedom espoused in On Liberty to the notion of the social welfare in Utilitarianism, this analysis posits that it is impossible for a political philosophy to have two ultimate ends. Thus, Mill's liberalism is inherently flawed. As this philosophy was the foundation of Mill's progressive vision for humanity that he discusses in his Three Essays on Religion, this vision becomes paradoxical as well. Contending that the neo-liberalist global economic order is the contemporary parallel for Mill's religion of humanity, this work further demonstrates how these philosophical flaws have spread to infect the core of globalization in the 21 st century as well as their implications for future international relations. -
Liberalism and the Common Good a Hayekian Perspective on Communitarianism
SUBSCRIBE NOW AND RECEIVE CRISIS AND LEVIATHAN* FREE! “The Independent Review does not accept “The Independent Review is pronouncements of government officials nor the excellent.” conventional wisdom at face value.” —GARY BECKER, Noble Laureate —JOHN R. MACARTHUR, Publisher, Harper’s in Economic Sciences Subscribe to The Independent Review and receive a free book of your choice* such as the 25th Anniversary Edition of Crisis and Leviathan: Critical Episodes in the Growth of American Government, by Founding Editor Robert Higgs. This quarterly journal, guided by co-editors Christopher J. Coyne, and Michael C. Munger, and Robert M. Whaples offers leading-edge insights on today’s most critical issues in economics, healthcare, education, law, history, political science, philosophy, and sociology. Thought-provoking and educational, The Independent Review is blazing the way toward informed debate! Student? Educator? Journalist? Business or civic leader? Engaged citizen? This journal is for YOU! *Order today for more FREE book options Perfect for students or anyone on the go! The Independent Review is available on mobile devices or tablets: iOS devices, Amazon Kindle Fire, or Android through Magzter. INDEPENDENT INSTITUTE, 100 SWAN WAY, OAKLAND, CA 94621 • 800-927-8733 • [email protected] PROMO CODE IRA1703 Liberalism and the Common Good A Hayekian Perspective on Communitarianism —————— ✦ —————— LINDA C. RAEDER In the end, given liberty to learn, men will find out that freedom means community. —William Aylott Orton n recent years, a spirited -
Public Goods for Economic Development
Printed in Austria Sales No. E.08.II.B36 V.08-57150—November 2008—1,000 ISBN 978-92-1-106444-5 Public goods for economic development PUBLIC GOODS FOR ECONOMIC DEVELOPMENT FOR ECONOMIC GOODS PUBLIC This publication addresses factors that promote or inhibit successful provision of the four key international public goods: fi nancial stability, international trade regime, international diffusion of technological knowledge and global environment. Each of these public goods presents global challenges and potential remedies to promote economic development. Without these goods, developing countries are unable to compete, prosper or attract capital from abroad. The undersupply of these goods may affect prospects for economic development, threatening global economic stability, peace and prosperity. The need for public goods provision is also recognized by the Millennium Development Goals, internationally agreed goals and targets for knowledge, health, governance and environmental public goods. Because of the characteristics of public goods, leaving their provision to market forces will result in their under provision with respect to socially desirable levels. Coordinated social actions are therefore necessary to mobilize collective response in line with socially desirable objectives and with areas of comparative advantage and value added. International public goods for development will grow in importance over the coming decades as globalization intensifi es. Corrective policies hinge on the goods’ properties. There is no single prescription; rather, different kinds of international public goods require different kinds of policies and institutional arrangements. The Report addresses the nature of these policies and institutions using the modern principles of collective action. UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION Vienna International Centre, P.O. -
Neoliberalism and the Public Good in Higher Education
BACHELOR THESIS CTP 01.11.2015 Neoliberalism and the Public Good in Higher Education Name: Svenja Mielke Student Number: 930119571030 Chair Group: Law and Governance Supervisors: Michiel Köhne and Elisabet Rasch Wageningen UR *Cover picture by Van Nispen (2015). Contents Contents ..................................................................................................................................................... 1 Foreword .................................................................................................................................................... 2 Abstract ...................................................................................................................................................... 2 Introduction ................................................................................................................................................ 3 Problem Statement ...................................................................................................................... 4 Methods....................................................................................................................................... 6 Chapter 1. The Public Good and Neoliberalism ........................................................................................ 7 The Public Good ......................................................................................................................... 7 Neoliberalism ............................................................................................................................. -
Product Differentiation
Product differentiation Industrial Organization Bernard Caillaud Master APE - Paris School of Economics September 22, 2016 Bernard Caillaud Product differentiation Motivation The Bertrand paradox relies on the fact buyers choose the cheap- est firm, even for very small price differences. In practice, some buyers may continue to buy from the most expensive firms because they have an intrinsic preference for the product sold by that firm: Notion of differentiation. Indeed, assuming an homogeneous product is not realistic: rarely exist two identical goods in this sense For objective reasons: products differ in their physical char- acteristics, in their design, ... For subjective reasons: even when physical differences are hard to see for consumers, branding may well make two prod- ucts appear differently in the consumers' eyes Bernard Caillaud Product differentiation Motivation Differentiation among products is above all a property of con- sumers' preferences: Taste for diversity Heterogeneity of consumers' taste But it has major consequences in terms of imperfectly competi- tive behavior: so, the analysis of differentiation allows for a richer discussion and comparison of price competition models vs quan- tity competition models. Also related to the practical question (for competition authori- ties) of market definition: set of goods highly substitutable among themselves and poorly substitutable with goods outside this set Bernard Caillaud Product differentiation Motivation Firms have in general an incentive to affect the degree of differ- entiation of their products compared to rivals'. Hence, differen- tiation is related to other aspects of firms’ strategies. Choice of products: firms choose how to differentiate from rivals, this impacts the type of products that they choose to offer and the diversity of products that consumers face. -
The Person and the Common Good*
The Person and the Common Good* By Jacques Maritain Among the truthsof whichcontemporary thought stands in partic- ular need and from which it could draw substantialprofiit, is the doctrineof the distinctionbetween individuality and personality. The essentialimportance of this distinctionis revealedin the principlesof St. Thomas. Unfortunately,a right understandingof it is difficultto achieveand requiresan exerciseof metaphysicalinsight to whichthe contemporarymind is hardlyaccustomed. Does societyexist for each one of us, or does each one of us exist for society?Does the parishexist for the parishioneror the parishioner for the parish?This question,we feel immediately,involves two aspects, in each of which there must be some elementof truth. A unilateral answerwould only plunge us into error. Hence, we must disengage the formalprinciples of a truly comprehensiveanswer and describethe precisehierarchies of valueswhich it implies. The NineteenthCentury experiencedthe errorsof individualism. We have witnessedthe de- of velopment of a totalitarian or exclusively communal conception that societywhich took placeby way of reaction. It was natural,then, in a simultaneousreaction against both totalitarianand individualistic into errorsthe concept of the human person, incorporatedas such and that be opposed to both the idea of the totalitarian state society, to of the sovereigntyof the individual. In consequence,minds related uneven in widely differingschools of philosophicthought and quite intellectualexactitude and precisionhave sensed in the notionand term current of "person"the solution sought. Whence, the "personalist" remote which has developedin our time. Yet nothing can be more two We have undertaken in this paper a reconsideration and development of Deneke conferences: the first one, entitled "The Human Person and Society," was the Lecture, given at Oxford May 9, 1939, and published in a limited edition (Paris, Desclee de Brouver. -
Market Failure Guide
Market failure guide A guide to categorising market failures for government policy development and evaluation industry.nsw.gov.au Published by NSW Department of Industry PUB17/509 Market failure guide—A guide to categorising market failures for government policy development and evaluation An external academic review of this guide was undertaken by prominent economists in November 2016 This guide is consistent with ‘NSW Treasury (2017) NSW Government Guide to Cost-Benefit Analysis, TPP 17-03, Policy and Guidelines Paper’ First published December 2017 More information Program Evaluation Unit [email protected] www.industry.nsw.gov.au © State of New South Wales through Department of Industry, 2017. This publication is copyright. You may download, display, print and reproduce this material provided that the wording is reproduced exactly, the source is acknowledged, and the copyright, update address and disclaimer notice are retained. To copy, adapt, publish, distribute or commercialise any of this publication you will need to seek permission from the Department of Industry. Disclaimer: The information contained in this publication is based on knowledge and understanding at the time of writing July 2017. However, because of advances in knowledge, users are reminded of the need to ensure that the information upon which they rely is up to date and to check the currency of the information with the appropriate officer of the Department of Industry or the user’s independent advisor. Market failure guide Contents Executive summary -
Institutions and Economics of Water Scarcity and Droughts
water Editorial Institutions and Economics of Water Scarcity and Droughts Julio Berbel 1 , Nazaret M. Montilla-López 1,* and Giacomo Giannoccaro 2 1 WEARE–Water, Environmental and Agricultural Resources Economics Research Group, Department of Agricultural Economics, Universidad de Córdoba, Campus Rabanales, Ctra. N-IV km 396, E-14014 Córdoba, Spain; [email protected] 2 Department of Agricultural and Environmental Sciences, University of Bari “Aldo Moro”, 70126 Bari, Italy; [email protected] * Correspondence: [email protected] Received: 9 November 2020; Accepted: 17 November 2020; Published: 19 November 2020 1. Introduction Integrated water resources management seeks an efficient blend of all water resources (e.g., fresh surface water, groundwater, reused water, desalinated water) to meet the demands of the full range of water users (e.g., agriculture, municipalities, industry, and e-flows). Water scarcity and droughts already affect many regions of the world and are expected to increase due to climate change and economic growth. In this Special Issue, 10 peer-reviewed articles have been published that address the questions regarding the economic effects of water scarcity and droughts, management instruments, such as water pricing, water markets, technologies and user-based reallocation, and the strategies to enhance resiliency, adaptation to scarcity and droughts. There is a need to improve the operation of institutions in charge of the allocation and re-allocation of resources when temporal (drought) or structural over-allocation arises. Water scarcity, droughts and pollution have increased notably in recent decades. A drought is a temporary climatic effect or natural disaster that can occur anywhere and can be short or prolonged. -
Public Health Is a Public Good
2 Letter From the Dean 2017 EDITION mailman.columbia.edu n the world’s first modern economic treatise, Public The Wealth of Nations, Adam Smith introduced I the principle of public goods—things that, in his words, “may be in the highest degree advantageous Health to a great society, but are, however, of such a nature that the profits could never repay the expense to an Is a individual or small number of individuals, and which it therefore cannot be expected that any individual or small number of individuals can erect.” Lighthouses, Public bridges, and canals made Smith’s list. So, too, did “the most essential parts of education.” Good Nearly years later, Americans prize an array of public goods: our national parks, public transportation, clean air. In economic parlance, such goods are both available to and beneficial for all. Take clean air— anyone can inhale, and one person’s respiration does Dean Linda P. Fried, MD, MPH not deprive others of similar benefit. Let me then be so bold as to propose another public good: population health. Smith may have been a moral philosopher, but at its core, his take on the public good was strictly economic. Public goods spur commerce; illness erodes economic productivity. On that count alone, population health Accepting population demands our attention. Consider malaria. From to , more than one-third of the nations health as a public worldwide with intensive malaria had negative rates of economic growth; good can be the basis malaria-free countries boasted, on average, a . percent rate of growth. Closer to home, the Mailman School’s own Peter Muennig, MD, PhD, has for developing quantified the opportunity costs that accrue when children suer low-level and aligning eective lead exposure: nearly $ million in Flint, Michigan, alone. -
What Impact Does Scarcity Have on the Production, Distribution, and Consumption of Goods and Services?
Curriculum: 2009 Pequea Valley SD Curriculum PEQUEA VALLEY SD Course: Social Studies 12 Date: May 25, 2010 ET Topic: Foundations of Economics Days: 10 Subject(s): Grade(s): Key Learning: The exchange of goods and services provides choices through which people can fill their basic needs and wants. Unit Essential Question(s): What impact does scarcity have on the production, distribution, and consumption of goods and services? Concept: Concept: Concept: Scarcity Factors of Production Opportunity Cost 6.2.12.A, 6.5.12.D, 6.5.12.F 6.3.12.E 6.3.12.E, 6.3.12.B Lesson Essential Question(s): Lesson Essential Question(s): Lesson Essential Question(s): What is the problem of scarcity? (A) What are the four factors of production? (A) How does opportunity cost affect my life? (A) (A) What role do you play in the circular flow of economic activity? (ET) What choices do I make in my individual spending habits and what are the opportunity costs? (ET) Vocabulary: Vocabulary: Vocabulary: scarcity, economics, need, want, land, labor, capital, entrepreneurship, factor trade-offs, opportunity cost, production markets, product markets, economic growth possibility frontier, economic models, cost benefit analysis Concept: Concept: Concept: Economic Systems Economic and Social Goals Free Enterprise 6.1.12.A, 6.2.12.A 6.2.12.I, 6.2.12.A, 6.2.12.B, 6.1.12.A, 6.4.12.B 6.2.12.I Lesson Essential Question(s): Lesson Essential Question(s): Lesson Essential Question(s): Which ecoomic system offers you the most What is the most and least important of the To what extent