The Economics of Edwin Chadwick: Incentives Matter

ISBN-13: 9781781005033 / Angielski / Twarda / 2012 / 264 str.

Jr. Robert B. Ekelund; III Edward O. Price

Opis

The authors detail Sir Edwin Chadwick's sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick's views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick's utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries.