Equality and Efficiency: The Big Tradeoff (A Brookings Classic)
Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later.
In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his la
It is striking how much wisdom is packed into this short book (originally a set of lectures Arthur Okun delivered at the Harvard Kennedy School). It is also striking how well it has aged. In fact, much of it reads as if it is participating in contemporary debates, although. I am not sure that is a reflection on Okun's timelessness or the staleness of the contemporary debates.
For example, Okun argues against using the reduction of political power as a justifications for more ...more
A pretty good primer on the tradeoffs between equity and efficiency and government policy. It's not especially theoretical, but I'm sure policy types would enjoy it a little more. Kind of basic though. If you're interested in ...more