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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Equality of Income and Opportunity.

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 trwdeoff 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 inefficiency inequality of opportunity Irving Kristol issues John Rawls Karl Polanyi labor leakages leaky bucket tradeeoff Lester Thurow liberty marginal product market ethic marketplace Milton Friedman nation Okun efficiency percent political process poor poverty poverty line preference for equality principle prizes programs progressive taxation R.

At the same time, the efficiencies of the market as an allocative mechanism are not lost on Okun; hence the title of his book. Nora Jane rated it it was amazing Mar 28, No trivia or quizzes yet. Originally published inEquality and Efficiency: If you’re interested in development policy, start with Sen’s “Development As Freedom.

Books by Arthur M. Okun explores dquality conflicts that arise when society’s desire to reduce inequality would impair economic efficiency, confronting policymakers with “the big tradeoff.


Okun No preview available – May 11, Brendan Cheney rated it liked it Shelves: If you’re interested in I eqquality to say, the word “big” strikes me as just a little bit juvenile in a context like, say, the subtitle of a “serious” book. Further Thoughts on Equality and Efficiency. Refresh and try again. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with traedoff keen interest in social policy.

Inhe cofounded, with George Perry, the Brookings Papers on Economic Activity BPEAwhich is still among the world’s most prestigious economic journals and currently boasts sixteen Nobel Hhe winners among its authors. I really liked the way that Okun presented the issue of having to balance social good with economic efficiency.

Mar 02, Chris rated it liked it Recommends it for: Published May 1st by Brookings Institution Press.

When Okun died unexpectedly at the age of just 51 in Marchhe was hailed as an innovative and effective policy economist who was unique in holding the respect and admiration of both academic economists and practical politicians. Okun Limited preview – To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes.

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

John rated it really liked it May 23, Dec 23, Sagar Jethani rated it liked it Shelves: A good theoretical exercise, but the numbers are by now way out of date. Other editions – View all Equality and Efficiency: Minh rated it really liked it Nov 10, This mixture of equal rights and unequal economic status breeds tensions between the political principles of democracy and the economic principles of capitalism.

To see what your friends thought of this book, please sign up. Lists with This Book. With regards to efficiency, the concept he invokes of the “leaky bucket” is both useful and memorable as a tool for thinking about redistribution from the rich to the poor. Return to Book Page. In his foreword, Lawrence H.


It’s not especially theoretical, but I’m sure policy types would enjoy it a little more.

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

Luke rated it it was amazing Sep 17, My library Help Advanced Book Search. Tom Bice rated it liked it Sep 08, Toffano rated it really liked it Apr 22, Contents Rights and Dollars. Trsdeoff rated it it was amazing Jun 18, Matt rated it really liked it May 03, We do okub want society to turn into a giant “vending machine” where anything and everything is for sale.

In the s he served as a senior economist, member, and, finally, as chairman of the Council of Economic Advisers in the Kennedy and Johnson administrations.

I just re-read this after 25 years.

Equality and Efficiency: The Big Tradeoff

I found his frank discussion appealing, especially with how objective he tried to be showing both the pros and cons of different decisions that each society must make, as well as his own preference of where he would have liked society to have come to. The Case for the Market. Fascinating to read in light of recent political and economic developments. Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially.