Synthesis and Antithesis

Neil M. Kay

Chapter 9 in The Emergent Firm, 1984, pp 144-159 from Palgrave Macmillan

Abstract: Abstract Public policy in neoclassical theory has an appealing and elegant simplicity. The policy or normative branch of conventional economics is termed welfare economics and has attracted the close attention of the mathematical technicians in recent years. The two major preoccupations of welfare economists are efficiency and equity; roughly how to make the cake as big as possible and how to slice the cake, respectively.

Keywords: Welfare Economic; Economic Freedom; Price System; Price Mechanism; Bounded Rationality (search for similar items in EconPapers)
Date: 1984
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DOI: 10.1007/978-1-349-17517-8_9

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