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Social Perfectionism

F. H. Buckley

in Fair Governance: Paternalism and Perfectionism

Published in print:
2009
Published Online:
May 2009
ISBN:
9780195341263
eISBN:
9780199866892
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195341263.003.0009
Subject:
Law, Philosophy of Law

A subject's actions may have the third party spillover effects which economists call externalities. What you do affects others, for good or for ill, and this may supply a reason to restrict your ... More


Exchange and Efficiency

Richard Adelstein

in The Exchange Order: Property and Liability as an Economic System

Published in print:
2017
Published Online:
September 2017
ISBN:
9780190694272
eISBN:
9780190694302
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190694272.003.0003
Subject:
Economics and Finance, Economic Systems

This chapter articulates the Coase Theorem, which describes how voluntary exchange works when it works perfectly, and considers its implications for both efficient and equitable allocation when ... More


Why Do Economists Like a Carbon Tax?

Gilbert E. Metcalf

in Paying for Pollution: Why a Carbon Tax is Good for America

Published in print:
2019
Published Online:
January 2019
ISBN:
9780190694197
eISBN:
9780190694227
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190694197.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

In non-technical language, the chapter explains why economists favor putting a price on pollution as the least expensive way to cut pollution to its socially optimal level. Using a pollution example ... More


Government and Markets

Sidney A. Shapiro and Joseph P. Tomain

in Achieving Democracy: The Future of Progressive Regulation

Published in print:
2014
Published Online:
April 2014
ISBN:
9780199965540
eISBN:
9780199360833
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199965540.003.0004
Subject:
Law, Constitutional and Administrative Law

Chapter 4 begins Part II of the book by arguing that neoliberalism is too narrow a view of the economy. Further, neoliberal economics has damaged, rather than fostered, strong competitive markets. ... More


Humanity’s Crooked Timber

Jim Leitzel

in Concepts in Law and Economics: A Guide for the Curious

Published in print:
2015
Published Online:
September 2015
ISBN:
9780190213978
eISBN:
9780190214005
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190213978.003.0006
Subject:
Economics and Finance, Public and Welfare

People cannot be counted upon to make all of their decisions in a fully rational manner—and sometimes the law should take the possibility of such lapses into account. For instance, contracts that ... More


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