Reflection on Microeconomic Policy Frameworks in Australia, and a Suggestion about Fairness Jonathan Pincus

User activity

Share to:
View the summary of this work
Author
Jonathan Pincus
Subjects
Economics
Summary
For economists, the main test of a microeconomic policy change is its effect on efficiency: gains minus losses, equally weighted. However, it is standard economics that individuals value losses more than gains. Moreover, imposing large, uncompensated and uninsurable policy-induced losses would be widely regarded as unfair, when they are merely collateral damage from policy action. The article argues the case for adjusting the calculation of efficiency to take account of this 'unfairness' and discusses how it could be done. The context is the relatively recent acceptance in Australia of competition, if planned and regulated, as being generally socially beneficial.
Bookmark
http://trove.nla.gov.au/work/101478
Work ID
101478

2 editions of this work

Find a specific edition
Thumbnail [View as table] [View as grid] Title, Author, Edition Date Language Format Libraries

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this work

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this work

Add a comment


Show comments and reviews from Amazon users