An anthology regarding merit goods; the unfinished ethical revolution in economic theory.9781557534286 An anthology regarding merit goods; the unfinished ethical revolution in economic theory. Ed. by Wilfried Ver Eecke. Purdue University Purdue University (pərdy  `, -d`), main campus at West Lafayette, Ind. Press
2007 732 pages $99.95 Hardcover HJ141 In his 1956 paper, A Multiple Theory of Budget Determination, economist Richard Musgrave Richard Abel Musgrave (December 14, 1910 - January 15, 2007) was an American economist of German heritage. Born in Königstein im Taunus, Germany, he studied in Munich and Heidelberg. In 1937 he graduated from Harvard. introduced the concept of merit good, a valued good (such as education) that is under-consumed if provided by the market mechanism because positive social externalities externalities side-effects, either harmful or beneficial, borne by those not directly involved in the production of a commodity. are not internalized by individual consumers. This anthology opens with all of Musgrave's writings on the concept. It then presents 17 papers in which other economists discuss the definition of merit good and its characteristics, explore its justifications, consider its proper domain, and introduce mathematical models of merit good features. Also included in this section are a pair of papers that reject the concept. Finally, the editor presents 18 papers from various disciplines in which, he argues, the merit good concept is central to the discussion, even if it is not explicitly mentioned. These papers include writings by James Tobin Noun 1. James Tobin - United States economist (1918-2002) Tobin , Amartya Sen, John Rawls, and Pope John Paul II Pope John Paul II (Latin: Ioannes Paulus PP. II, Italian: Giovanni Paolo II, Polish: Jan Paweł II) born Karol Józef Wojtyła . ([c]20072005 Book News, Inc., Portland, OR) |
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