![]() Pigou’s The Economics of Welfare (1932 ) but lacks his subtlety of analysis, is based on the understanding that these costs are “externalities” – a market failure. The truth is, however, that our understanding of these costs and how to deal with them in terms of public policy is still far from settled.ĢConventional economic theory regarding social costs, which stems from A.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |