Equality and Efficiency: The Big Tradeoff [Arthur M Okun] on *FREE * shipping on qualifying offers. Book by Arthur M Okun. Equality and Efficiency has ratings and 9 reviews. Sagar said: Okun clarifies the issues surrounding the tradeoff between equality and efficiency, ra. Equality and Efficiency: The Big Tradeoff. By Arthur M. Okun. (Washington, D.C.: The Brookings Institution, Pp. $) – Volume 71 Issue 2 – Aaron.

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Published May 1st by Brookings Institution Press. Common terms and phrases American assets attitudes average basic benefits billion Brookings Institution capital capitalist chapter citizens coercion collectivized competitive Constitution of Liberty consumer contribution costs deprivation differentials discrimination discussion dollars domain of rights earnings economic inequality economists effects effort egalitarian Equality and Efficiency equality of income equality of opportunity ethical example fair family income federal financing freedom Hayek incentives income and wealth income distribution income tax individual inefficiency inequality of opportunity Irving Kristol issues John Rawls Karl Polanyi labor leakages leaky bucket legislators Lester Thurow liberty marginal product market ethic marketplace Milton Friedman nation Okun ownership percent political process poor poverty poverty line bbig for equality principle prizes programs progressive taxation R.

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If you’re interested in I have to say, the word “big” strikes me as just a little bit juvenile in a context like, say, the subtitle of a “serious” book. With regards to efficiency, the concept ane invokes of the “leaky bucket” is both useful and memorable as a tool for thinking about redistribution from the rich to the poor.


Be the first to ask a question about Equality and Efficiency. This book was originally bif in the mid’s but could just as easily been written yesterday. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Tom Bice rated it liked it Sep 08, Kind of basic though.

Okun clarifies the issues surrounding the tradeoff between equality and efficiency, rather than taking a firm position on the issue of how much society should exchange one for the other. Paperbackpages.

Equality and Efficiency: The Big Tradeoff

Considering this, I think that this book is definitely worth revisiting especially considering the very pragmatic way that Okun approaches the subject.

Okun may be best remembered for Okun’s Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. His discussion of how societies rely on rights as well as markets equalitg be required reading for all young economists who are enamored with market solutions to all problems. Its political and social institutions distribute rights and privileges universally and proclaim the equality of all citizens. Originally published inEquality and Efficiency: Equalit about the boundary between the market and the public sphere.

No trivia or quizzes yet. In the s he served as a senior economist, member, and, finally, as chairman of the Council of Economic Advisers in the Kennedy and Johnson administrations. To all readers, Okun presents an engaging dual theme: The existance of a trade-off between equality and efficiency should be a much bigger part of the debate in economics. Luke rated it it was amazing Sep 17, Brent rated it really liked it Dec 20, Return to Book Page. Dec 24, Hanna rated it it was amazing.


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Equality and Efficiency: The Big Tradeoff – Arthur M. Okun – Google Books

Fascinating to read in light of recent political and economic developments. Extremely well-written and to the point on balancing equality thr efficiency to reach whatever flavor of policy you prefer. The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years.

Okun No preview available – Preview — Equality and Efficiency by Arthur M. Contemporary American society has the look of a split-level structure. The Big Tradeoffwith its difficult questions about the teh relationship between capitalism and democracy, is most certainly Okun’s masterwork.

The Big Tradeoff Arthur M. I just re-read this after 25 years. Today, Okun’s dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. To see what your friends thought of this book, please sign up. David Robertus rated it it was amazing Feb 04, Nora Jane rated it it was amazing Mar 28, M rated it it was amazing Aug 19, Matt rated it really liked it May 03, As Okun puts it: Sep 08, Christopher rated it it was efficlency.

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Increasing Equality in an Efficient Economy. May 11, Brendan Cheney rated it liked it Shelves: Toffano rated it really liked it Apr 22,