... The MoralConditions of Economic Efficiency. by Walter J. Schultz. Cambridge: Cambridge University Press, 2001. 144 pp. $50.00. In his preface Schultz writes, “I hope this book contributes to a better understanding of the interconnection between morality and economic behavior” (xi). I believe he achieves his...

... of available surplus serving as a gauge of economic efficiency and social welfare. The protagonists argued about how it should be expressed mathematically, the hypothesis underpinning it, and its general significance. The paper draws heavily on unpublished materials (letters and notes) to unfold the different...

...Jeff Biddle The CES production function was introduced to economics in the 1961 paper “Capital-Labor Substitution and Economic Efficiency,” by Kenneth Arrow, Hollis Chenery, Bagicha Minhas, and Robert Solow. The paper had an immediate and substantial impact on economic research, and the CES...

.... Overall, Say’s analysis of free trade sheds greater light on his conception of the role of government in a market economy. It illustrates under what conditions the government should intervene in order to achieve both economic efficiency and social justice. Jean-Baptiste Say on Free Trade Guy Numa We must...

... and liberty, economic efficiency, commercial interests, corruptive effects on individual and public morality, and political necessity. Distribution of limited resources is discussed in terms of a zero-sum game. In one of the key moments of the treatise, Guicciardini denies that preferences toward the best...

... as constitutional economics, who stressed the role of efficient institutions for the promotion of economic development and favored sound public finance as a basis for a strong currency and a prerequisite of growth. The paper puts Soutsos' economic policy recommendations against his theoretical formation...

... is with how economics leveraged psychology to grow a regulatory system when individual units pursuing their own interests did not promote the interests of society. This dilemma was one of a few stimuli generating a new focal point for rationality, that of efficient implementation. More recently, economists...

.... 1944 . Social Darwinism in American Thought, 1860–1915 . Philadelphia: University of Pennsylvania Press. Jones, Edward D. 1911 . Review Article. American Economic Review 1.4 : 833 -36. Kanigel, Robert. 1997 . The One Best Way: Frederick Winslow Taylor and the Enigma of Efficiency . New...

...Steven G. Medema The notion of a Pigovian tradition in externality theory, against which Ronald Coase and others reacted beginning in the 1960s, has a long history. This article, though, suggests that the literature of economics evidences no such tradition, and that the discussion of externalities...

... and Intertemporal Efficiency in Capital Accumulation .” International Economic Review 3 , no. 1 : 94 – 107 . Gale David . 1956 . “ The Closed Linear Model of Production .” In Linear Inequalities and Related Systems , edited by Kuhn Harold W. Tucker Albert W. , 285 – 303...

... Differences: Appropriate Technology vs. Efficiency. European Economic Review 51 : 2080 –110. Jorgenson, D. W., and Z. Griliches. 1967 . The Explanation of Productivity Change. Review of Economic Studies 34 : 249 –83. Kanefsky, J. F. 1979 . The Diffusion of Power Technology in British Industry...

... della legislazione di Gaetano Filangieri .” In Il linguaggio del tardo illuminismo. Politica, diritto e società civile , edited by Trampus A. Roma : Edizioni di storia e letteratura . Bonner John . 1995 . Economic Efficiency and Social Justice: The Development of Utilitarian Ideas...

... . “ Institutional and Structural Changes in Air Navigation Service-Providing Organizations. ” Journal of Air Transport Management 12 : 236 – 52 . Button Kenneth J. Neiva Rui . 2014 . “ Economic Efficiency of European Air Traffic Control Systems. ” Journal of Transport Economics and Policy 48...

... in his reconstructions. His readers must hope that his next book will present his always subtle analysis at the length it deserves. Walter Eltis, Exeter College, Oxford University The MoralConditions of Economic Efficiency. by Walter J. Schultz. Cambridge...

... for economic efficiency” (106). I agree that his MNCs are necessary, but not that they are sufficient. Let me explain. Early on Schultz makes the standard assumption that “each agent’s endowment is finite” (23) and implicitly that each is different. If such differences are dramatic, they can be corrosive...

... traders” (CW 19: 149). But although jettisoned in a primarily unrestricted version, in- dividualism was to be retained in a regulated form since its contribu- tion to economic efficiency was too valuable to lose. The use of small units in certain cases, risk-taking, avarice and the profit...

... is the method Graaff uses to overcome this limitation. He admits that while Kaldor would probably accept the conversion to one of economic efficiency, he would be less likely to approve setting it in an imaginary situation. Both Pasinetti’s and Tobin’s articles are concerned with Kaldor’s “Keynes...

... . Conditions for Economic Efficiency of Centralized and Decentralized Structures. In Value and Plan , edited by Gregory Grossman. Berkeley: University of California Press. ____. 1960b . Optimality and Informational Efficiency in Resource Allocation Processes. In Mathematical Methods in the Social...

... K. J. Chenery H. B. Minhas B. S. Solow R. M. 1961 . “ Capital-Labor Substitution and Economic Efficiency .” Review of Economics and Statistics 43 : 225 – 50 . Carson Carol S. 1990 . “ The Conference on Research in Income and Wealth: The Early Years .” In Fifty Years...

... its representatives, which of the plans was to be im- plemented. Mises’s counterargument is easily misunderstood. Mises started by pointing out that use values were subjective and did not allow for an objective measure of the economic efficiency of actions (or at least not one...