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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Matthew Coates rated it liked it Sep 19, Reading this will illustrate just how extreme the Republican party has moved since the book’s original publication in the mid’s.

Arthur Melvin Okun is widely considered among the most important macroeconomists of the twentieth century. Dec 24, Hanna rated it it was amazing. In this revised and expanded version of the Godkin Lectures presented at the John F.

Toffano rated it really liked it Apr 22, 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. Matt rated it really liked it May 03, Nell rated it really liked it Feb 13, Paperbackpages.

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.

Which transactions should be excluded from markets, such as basic freedoms the right to survivalvotes, etc. This mixture of equal rights and unequal economic status breeds tensions between the political principles of democracy and the economic principles of capitalism. Yet economic institutions, with efficiency okuj their guiding principle, create disparities among citizens in living standards and material welfare.

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Equality and Efficiency: The Big Tradeoff

Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Rather than the simple and overly reductive memory I had from the foil that the title has become, I found the book to be thoughtful, nuanced, more trxdeoff than I expected or we have progressed less than I had thoughtand it actually affected my thinking somewhat.

Tom Eefficiency rated it liked it Sep 08, Okun Snippet view – Was rather hoping for a more spirited point-of-view than this highly-academic elucidation of the issue.

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.

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

On what one might think of as questions of “economic philosophy,” I doubt that Okun has been improved on in the subsequent interval. Further Thoughts on Equality and Efficiency.

Its political and social institutions distribute rights and privileges universally and proclaim the equality of all citizens. Sonia rated it it was amazing Jul 19, Want to Read saving…. It’s like if Huntington had subtitled “Clash of Civilizations” something like “how cultural differences lead to big wars.

There are no discussion topics on this book yet. The Case for the Market.

To all readers, Okun presents an engaging dual theme: Trivia About Equality and Effi John rated it really liked it May 23, A must-read for everyone interested in social sciences. The leaks represent both the cost of administering a system of redistribution and, more importantly, the dulling of the incentives that people face knowing a greater share of their income will be subject to taxation. Other editions – View all Equality and Efficiency: My library Help Advanced Book Search. Casey Tuttle rated it really liked it Mar 22, Louis rated it liked it Sep 08, And this new edition includes “Further Thoughts on Equality and Efficiency,” a paper published by the author two years later.

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Mehmet Ali Bayar rated it it was amazing Jan hte, Account Options Sign in. Known for his wit as well as his compassion, Okun reacted to surging inflation in the eqquality by developing an economic indicator he dubbed the Misery Indexwhich charted the well-being of Americans by combining the unemployment rate and inflation rate. All about the boundary between the market and the public sphere. A good theoretical exercise, but the numbers are by now way out of date.

In his foreword, Lawrence H. At the same time, the efficiencies of the marke Great book – extremely well written.

To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes.

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Scott rated it it was amazing Jul 11, Okun may be best remembered for Okun’s Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. In classrooms Arthur M. To see what your friends thought of this book, please sign up.