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Efficiency, Equality and Public Policy

With a Case for Higher Public Spending

  • Yew-Kwang Ng

Table of contents

  1. Front Matter
    Pages i-x
  2. Introduction

    1. Yew-Kwang Ng
      Pages 1-11
  3. The Foundation of Public Economic Policy

    1. Front Matter
      Pages 13-13
    2. Yew-Kwang Ng
      Pages 24-35
    3. Yew-Kwang Ng
      Pages 57-81
    4. Yew-Kwang Ng
      Pages 99-102
  4. How Much Should the Government Spend?

    1. Front Matter
      Pages 103-103
    2. Yew-Kwang Ng, Siang Ng
      Pages 105-123
    3. Yew-Kwang Ng
      Pages 135-136
  5. Back Matter
    Pages 137-189

About this book

Introduction

This book provides compelling arguments for the exclusive concern with efficiency ('a dollar is a dollar') in all specific areas of public economic policy, leaving the objective of equality to be achieved through the general tax/transfer system. Public policies should ultimately maximize the sum of individual welfares which should be individual happiness rather than preferences. Relative-income and environmental disruption effects cause a bias in favour of private spending which is no longer conducive to happiness socially. Welfare can be increased more by higher public spending on research and environmental protection, including the perfection of the techniques of brain stimulation to increase happiness.

Keywords

economic policy economics efficiency environment environmental protection public policy research utility Welfare

Authors and affiliations

  • Yew-Kwang Ng
    • 1
  1. 1.Monash UniversityAustralia

Bibliographic information