Introduction to Political Economy (Routledge Revivals)
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A01=E. Mishan
Actual Pareto Improvement
allocative efficiency
Author_E. Mishan
Category=KCP
Consumer Surplus
consumer surplus analysis
context
Contract Curve
cost
curve
economic
economics
efficiency criterion paradox
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Equilibrium Output
Ethical Consensus
externalities in markets
General Economic Context
Jones Effect
marginal
Marginal Cost Curve
Marginal Cost Pricing Rule
Marginal Factor Cost
Marginal Valuation Curve
Net Social Benefit
Nonoptimal Position
normative
normative economics
Optimal Outputs
Output OQ
pareto
Pareto Criterion
partial
Partial Economic Analysis
Partial Economic Context
Persons A
Potential Pareto Improvement
Social Marginal Cost Curve
social opportunity cost
Supply Curve
Transformation Curve
Unchanging Tastes
valuation
Vice Versa
welfare theory
Product details
- ISBN 9780415688741
- Weight: 340g
- Dimensions: 138 x 216mm
- Publication Date: 30 Sep 2012
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Paperback
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First published in 1982, Introduction to Political Economy is a clear and concise introduction to the normative aspects of economics by one of the world’s leading authorities on the subject. In this highly readable book, Professor Mishan takes the student to the heart of the subject without recourse to algebra and with only the simplest of diagrams. The author carefully distinguishes the various meanings of the terms political economy, normative economics, welfare economics and allocative economics. He considers the standard allocation rules and the crucial concepts of consumer surplus and rent, which are so important to cost-benefit analysis, while then going on to resolve the paradoxes of the efficiency criterion. Lastly, Professor Mishan assesses both the social worth of radical conservatism, which is associated with the Chicago School of Economics, and the relevance of the modern theory of welfare economics to social welfare.
