Equality and Efficiency: A Major Choice: A Major Choice

Author: A. Okun
Publisher:
Publish Date: 2003-07-01
Features: This book is a highly influential theoretical work that discusses one of the most important issues in economics—the issues of equality and efficiency, fairness and justice. The author begins with the dual institutional structure of social structure and analyzes the divergence and convergence between citizen equality and market rules. The ambiguous nature of this relationship has led to the result of declining efficiency in the economic and political operations of modern Western states, making it a necessary consideration in modern state decision-making. This is a personal book that records the author's values, judgments, and experiences. The book consists of four chapters:
Chapter 1: The theme of the chapter is the importance of various values and the need to protect them under market intervention;
Chapter 2: Okun critiques the arguments in favor of market capitalism;
Chapter 3: The author examines in detail the nature and scope of economic inequality and its relationship to unequal opportunity;
Chapter 4: Okun evaluates the potential of progressive taxes, transfer payments to low-income groups, job training programs, and other measures as means to reduce the vast disparities in American living standards and eliminate economic deprivation that violates democratic principles.