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The Myth of Social Cost

1978 Business & Economics
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Release : 1978
Genre : Business & Economics
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Book Synopsis The Myth of Social Cost by : Steven N. S. Cheung

Download or read book The Myth of Social Cost written by Steven N. S. Cheung. This book was released on 1978. Available in PDF, EPUB and Kindle. Book excerpt: For over 50 years economists have argued that where private costs or benefits differ from social costs or benefits - in noise, smells, congestion, pollution of the environment - there is a 'clear case' for government intervention to correct the divergence. This argument has been used to justify almost endless intervention. However, the original analysts of social costs/benefits were led into error by failing to test their propositions against the evidence of real life. Painstaking empirical studies clearly demonstrate these errors. A divergence between private and social cost is no decisive justification for government action to correct it. The costs of intervention often outweigh the social benefits. Moreover, the alleged 'externalities' are merely uncontracted effects. Under private property rights, the use of contracts to transact what have been regarded as 'external' effects is far more common than has been commonly recognised.

The Myth of Social Cost

2002 Externalities (Economics)
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Release : 2002
Genre : Externalities (Economics)
Kind : eBook
Book Rating : 096/5 ( reviews)

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Book Synopsis The Myth of Social Cost by :

Download or read book The Myth of Social Cost written by . This book was released on 2002. Available in PDF, EPUB and Kindle. Book excerpt:

The myth of social cost

1978
Download The myth of social cost PDF Online Free

Author :
Release : 1978
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis The myth of social cost by : Steven N. S. Cheung

Download or read book The myth of social cost written by Steven N. S. Cheung. This book was released on 1978. Available in PDF, EPUB and Kindle. Book excerpt:

Social Cost

2024-04-15 Business & Economics
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Release : 2024-04-15
Genre : Business & Economics
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Book Synopsis Social Cost by : Fouad Sabry

Download or read book Social Cost written by Fouad Sabry. This book was released on 2024-04-15. Available in PDF, EPUB and Kindle. Book excerpt: What is Social Cost Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external costs. This might be applied to any number of economic problems: for example, social cost of carbon has been explored to better understand the costs of carbon emissions for proposed economic solutions such as a carbon tax. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Social cost Chapter 2: Microeconomics Chapter 3: Monopoly Chapter 4: Perfect competition Chapter 5: Deadweight loss Chapter 6: Free-rider problem Chapter 7: Externality Chapter 8: Market failure Chapter 9: Social credit Chapter 10: Profit maximization Chapter 11: Cost Chapter 12: Marginal cost Chapter 13: Pigouvian tax Chapter 14: Allocative efficiency Chapter 15: Marginal revenue Chapter 16: Shadow price Chapter 17: Market distortion Chapter 18: Profit (economics) Chapter 19: Spillover (economics) Chapter 20: Economics of science Chapter 21: Stock exchange (II) Answering the public top questions about social cost. (III) Real world examples for the usage of social cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Social Cost.

The Heterodox Theory of Social Costs

2015-07-30 Business & Economics
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Release : 2015-07-30
Genre : Business & Economics
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Book Rating : 378/5 ( reviews)

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Book Synopsis The Heterodox Theory of Social Costs by : K. William Kapp

Download or read book The Heterodox Theory of Social Costs written by K. William Kapp. This book was released on 2015-07-30. Available in PDF, EPUB and Kindle. Book excerpt: K. William Kapp’s heterodox theory of social costs proposes precautionary planning to pre-empt social costs and provide social benefits via socio-ecological safety standards that guarantee the gratification of basic human needs. Based on arguments from Thorstein Veblen, Karl Marx, and Max Weber, social costs are conceptualized as systemic and large-scale damages caused by markets. Kapp refutes neoclassical solutions, such as bargaining, taxation, and tort law, unmasking them as ineffective, inefficient, inconsistent, and too market-obedient. The chapters of this book present the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technological standards. This book demonstrates the fruitfulness of the heterodox theory of social costs as a coherent framework to develop effective remedies for today’s urgent socio-ecological crises. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.

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