Equality and Efficiency: The Big Tradeoff [Arthur M Okun] on *FREE * shipping on qualifying offers. Book by Arthur M Okun. Equality and Efficiency has ratings and 9 reviews. Sagar said: Okun clarifies the issues surrounding the tradeoff between equality and efficiency, ra. Equality and Efficiency: The Big Tradeoff. By Arthur M. Okun. (Washington, D.C.: The Brookings Institution, Pp. $) – Volume 71 Issue 2 – Aaron.

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Great book – extremely well written.

Which transactions should be excluded from markets, such as basic freedoms the right to survivalvotes, etc. My library Help Advanced Book Search.

If you’re interested in I have to say, the word “big” strikes me as just a little bit juvenile in a context like, say, the subtitle of a “serious” book. Toffano rated it really liked it Apr 22, We do not want society to turn into a giant “vending machine” equapity anything and everything is for sale. The Case for the Market. Equality of Income and Opportunity. Return to Book Page.

dfficiency Jerrodm rated it it was amazing Jun 18, Okun is a champion for equality, differing from his many conservative colleagues in the economics profession such as Milton Friedmen. It’s not especially theoretical, but I’m sure policy types would enjoy it a little more.

In his foreword, Lawrence H.

Equality and Efficiency: The Big Tradeoff

Thanks for telling us about the problem. Nell rated it really liked it Squality 13, Common terms and phrases American assets attitudes average basic benefits billion Brookings Institution capital capitalist chapter citizens coercion collectivized competitive Constitution of Liberty consumer contribution costs deprivation differentials discrimination discussion dollars domain of rights earnings economic inequality economists effects effort egalitarian Equality and Efficiency equality of income equality of opportunity ethical example fair family income federal financing freedom Hayek incentives income and wealth income distribution income tax individual efdiciency inequality of opportunity Irving Kristol issues John Rawls Karl Polanyi labor leakages leaky bucket legislators Lester Thurow liberty effixiency product market ethic marketplace Milton Friedman nation Okun ownership percent political process poor poverty poverty line preference for equality principle prizes programs progressive taxation R.


Brookings did effkciency service by reissuing it, including the excellent introduction by Larry Summers. Open Preview See a Problem? Scott rated it it was amazing Jul 11, But within the existing system there are ways to gain more of one good thing at a lower cost in terms of the other.

Equality and Efficiency: The Big Tradeoff by Arthur M. Okun

Okun is today remembered as an effective mediator between the realms of economic theory and analysis and the development and implementation of public policy.

In classrooms Arthur M. Increasing Equality in an Efficient Economy. To see what your friends thought of this book, please sign up. May 11, Brendan Cheney rated it liked it Shelves: To all readers, Okun presents an engaging dual theme: I really liked the way that Okun presented the issue of having to balance social good with economic Very interesting book, written back in the s, and still relevant. In contrast, our basic system emerges as a viable, if uneasy, compromise in which the market has its place and democratic institutions keep it in check.


Okun explores the conflicts that arise when society’s desire to reduce inequality would impair economic efficiency, confronting policymakers with “the big tradeoff. In the years since, Okun’s idea of indexing misery has been both repurposed and refined to track happiness and well-being across all sorts of indicators. Contents Rights and Dollars. There are no discussion topics on this book yet.

In Okun’s view, society’s concern for human dignity can be directed at reducing the economic deprivation that stains the record of American democracy—through progressive taxation, transfer payments, job programs, broadening equality of opportunity, eliminating racial and sexual discrimination, and lowering barriers to access to capital. Minh rated it really liked it Nov 10, With regards to efficiency, the concept he invokes of the “leaky bucket” equalify both useful and memorable as a tool for thinking about redistribution from the rich to the poor.

Equality and Efficiency: The Big Tradeoff – Arthur M. Okun – Google Books

Be the first to ask a question about Equality and Efficiency. Dec 04, Zahwil rated it really liked it. Okun Limited preview – Okun No preview available – A pretty good primer on the tradeoffs between equity and efficiency and government policy.