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Public Economics
Public economics ''(or economics of the public sector)'' is the study of government policy through the lens of economic efficiency and Equity (economics), equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being. Public economics provides a framework for thinking about whether or not the government should participate in economic markets and if so to what extent it should do so. Microeconomic theory is utilized to assess whether the private market (economics), market is likely to provide efficient outcomes in the absence of governmental interference; this study involves the analysis of government taxation and government spending, expenditures. This subject encompasses a host of topics notably market failures such as, Public good (economics), public goods, externalities and Imperfect competition, Imperfect Competition, and the cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, public infrastructure, public transit, public education, along with public health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis. Organizations that are not part of the public sector are either part of the private sector or voluntary sector. The private sector is composed of the economic sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James M
James may refer to: People * James (given name) * James (surname) * James (musician), aka Faruq Mahfuz Anam James, (born 1964), Bollywood musician * James, brother of Jesus * King James (other), various kings named James * Prince James (other) * Saint James (other) Places Canada * James Bay, a large body of water * James, Ontario United Kingdom * James College, a college of the University of York United States * James, Georgia, an unincorporated community * James, Iowa, an unincorporated community * James City, North Carolina * James City County, Virginia ** James City (Virginia Company) ** James City Shire * James City, Pennsylvania * St. James City, Florida Film and television * ''James'' (2005 film), a Bollywood film * ''James'' (2008 film), an Irish short film * ''James'' (2022 film), an Indian Kannada-language film * "James", a television episode of ''Adventure Time'' Music * James (band), a band from Manchester ** ''James'', ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Failure
In public choice, a government failure is a counterpart to a market failure in which government regulatory action creates economic inefficiency. A government failure occurs if the costs of an intervention outweigh its benefits. Government failure often arises from an attempt to solve market failure. The idea of government failure is associated with the policy argument that, even if particular markets may not meet the standard conditions of perfect competition required to ensure social optimality, government intervention may make matters worse rather than better. As with a market failure, government failure is not a failure to bring a particular or favored solution into existence but is rather a problem that prevents an efficient outcome. The problem to be solved does not need to be market failure; governments may act to create inefficiencies even when an efficient market solution is possible. Government failure (by definition) does not occur when government action creates winne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agnar Sandmo
Agnar Sandmo (9 January 1938 – 31 August 2019) was a Norwegian economist at the Norwegian School of Economics (NHH). He made a series of important contributions in the study of disparities, redistribution, insurance arrangements and tax systems. He has written and published many economic articles throughout his career. From 1976 to 1980, he was a member of the Petroleum Price Board of the Swedish Government's Economic Commission and, from 1996 to 1997, of the Government Committee on Priorities in Health Care. He served as chairman of the Government Expert Committee on Investment Policies of the Petroleum Fund in 2004. Sandmo was affiliated with the SNF, a prominent research firm, he mainly did work on public economics and taxation. His research is not limited to but includes the overarching fields of economics of uncertainty, public economics, environmental economics and the history of economic thought. His articles have appeared in many prominent Economic journals. He had vari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph P
Joseph is a common male name, derived from the Hebrew (). "Joseph" is used, along with "Josef (given name), Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the modern-day Nordic countries. In Portuguese language, Portuguese and Spanish language, Spanish, the name is "José". In Arabic, including in the Quran, the name is spelled , . In Kurdish language, Kurdish (''Kurdî''), the name is , Persian language, Persian, the name is , and in Turkish language, Turkish it is . In Pashto the name is spelled ''Esaf'' (ايسپ) and in Malayalam it is spelled ''Ousep'' (ഔസേപ്പ്). In Tamil language, Tamil, it is spelled as ''Yosepu'' (யோசேப்பு). The name has enjoyed significant popularity in its many forms in numerous countries, and ''Joseph'' was one of the two names, along with ''Robert'', to have remained in the top 10 boys' names list in the US from 1925 to 1972. It is especiall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mancur Olson
Mancur Lloyd Olson Jr. (; January 22, 1932 – February 19, 1998) was an American economist and political scientist who taught at the University of Maryland, College Park. His most influential contributions were to new institutional economics, and focused on the role played by private property, taxation, public goods, collective action, and contract rights in economic development. Early life and education Olson was born on January 22, 1932, in Grand Forks, North Dakota, to a family of Norwegian immigrants. He grew up on a farm near Buxton, North Dakota, next to the state border with Climax, Minnesota. Olson claimed that his given name, Mancur, was common throughout Scandinavian-immigrant communities in North America and was a variation of the Arabic name Mansoor. Olson graduated from North Dakota State University in 1954, and was a Rhodes Scholar at University College, Oxford from 1954 to 1956, before earning a PhD in economics from Harvard in 1963. He also served in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jonathan Gruber (economist)
Jonathan Holmes Gruber (born September 30, 1965) is an American professor of economics at the Massachusetts Institute of Technology, where he has taught since 1992. He is also the director of the Health Care Program at the National Bureau of Economic Research, where he is a research associate. An associate editor of both the ''Journal of Public Economics'' and the '' Journal of Health Economics'', Gruber has been heavily involved in crafting public health policy. He has been described as a key architect of both the 2006 Massachusetts health care reform, sometimes referred to as "Romneycare", and the 2010 Patient Protection and Affordable Care Act, sometimes referred to as the "ACA" and "Obamacare". He became the focus of media and political controversy in late 2014 when videos surfaced in which he made controversial statements about the legislative process, marketing strategies, and public perception surrounding the passage of the ACA. Early life and education Gruber was born on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assar Lindbeck
Carl Assar Eugén Lindbeck (26 January 1930 – 28 August 2020) was a Swedish professor of economics at Stockholm University and at the Research Institute of Industrial Economics (IFN). Lindbeck was a member of the Royal Swedish Academy of Sciences and the Norwegian Academy of Science and Letters, and previously chaired the Academy's prize committee for the Nobel Memorial Prize in Economic Sciences. He was the first Swede to be appointed a foreign Honorary Member of the American Economic Association, and one of only three Swedes ever. Lindbeck has done research on unemployment (e.g. the insider-outsider theory of employment), the welfare state (including the effect of changing social norms and its interaction with economic incentives), and China's reformed economy. Lindbeck received a Ph.D. from Stockholm University in 1963 with the doctoral thesis ''A study in monetary analysis''. Assar Lindbeck also has a theory on self-destructive welfare state dynamics, in which the we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Vickrey
William Spencer Vickrey (21 June 1914 – 11 October 1996) was a Canadian-American professor of economics and Nobel Laureate. He was a lifelong faculty member at Columbia University. A theorist who worked on public economics and mechanism design, Vickrey primarily discussed public policy problems. He originated the Vickrey auction, introduced the concept of congestion pricing in networks, formalized arguments for marginal cost pricing, and contributed to optimal income taxation. James Tobin described him as "an applied economist’s theorist, as well as a theorist’s applied economist.” Vickrey was awarded the 1996 Nobel Memorial Prize in Economic Sciences with James Mirrlees for their research into the economic theory of incentives under asymmetric information. Vickrey never personally received the Prize; it was announced just three days prior to his death. Early years Vickrey was born in Victoria, British Columbia to Charles Vernon Vickrey, a Congregationalist minister, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redistribution Of Income And Wealth
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals. Understanding of the phrase varies, depending on personal perspectives, political ideologies and the selective use of statistics. It is frequently used in politics, to refer to perceived redistribution from those who have more to those who have less. Rarely, the term is used to describe laws or policies that cause redistribution in the opposite direction, from the poor to the rich. The phrase is sometimes related to the term ''class warfare'', where the redistribution is alleged to counteract harm caused by high-income earners and the wealthy through means such as unfairness and discrimination. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distribution (economics)
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). In general theory and in for example the U.S. National Income and Product Accounts, each unit of output corresponds to a unit of income. One use of national accounts is for classifying factor incomes and measuring their respective shares, as in national Income. But, where focus is on income of ''persons'' or ''households'', adjustments to the national accounts or other data sources are frequently used. Here, interest is often on the fraction of income going to the top (or bottom) ''x'' percent of households, the next ''x'' percent, and so forth (defined by equally spaced cut points, say quintiles), and on the factors that might affect them (globalization, tax policy, technology, etc.). History Distribution has been central in the study of political economy since the 19th century, as shown in scholarship ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Janet Currie
Janet Currie is a Canadian-American economist and the Henry Putnam Professor of Economics and Public Affairs at Princeton University's School of Public and International Affairs, where she is Co-Director of the Center for Health and Wellbeing. She was the 2024 President of thAmerican Economic Association.She served as the Chair of the Department of Economics at Princeton from 2014–2018. She also served as the first female Chair of the Department of Economics at Columbia University from 2006–2009. Before Columbia, she taught at the University of California, Los Angeles and at the Massachusetts Institute of Technology. She was named one of the top 10 women in economics by the World Economic Forum in July 2015. She was recognized for her mentorship of younger economists with the Carolyn Shaw Bell Award from the American Economics Association in 2015 and also participated in the founding and evaluation of the AEA’s mentoring program for junior faculty. Education Currie receiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
