Truth or Economics: On the Definition, Prediction, and Relevance of Economic Efficiency

Markovits, Richard S.

ISBN 10: 0300114591 / ISBN 13: 9780300114591

Published by Yale University Press, New Haven, 2008

About this Item

Cloth. First printing. Very fine in a very fine dust jacket. A pristine copy, new and unread. Smoke-free. Shipped in well-padded box.

Seller Inventory # FLAHIVE-UNIVERSITY-18

Bibliographic Details

• Title: Truth or Economics: On the Definition, Prediction, and Relevance of Economic Efficiency
• Publisher: Yale University Press, New Haven
• Publication Date: 2008
• Language: English
• ISBN 10: 0300114591
• ISBN 13: 9780300114591
• Binding: Hardcover
• Edition: 1st Edition
• Condition: New
• Dust Jacket Condition: New

About this title

Synopsis

Is economic efficiency a sound basis upon which to make public policy or legal decisions? In this sophisticated analysis, Richard S. Markovits considers the way in which scholars and public decision-makers define, predict, and assess the moral and legal relevance of economic efficiency.

 

The author begins by identifying imperfections in the traditional definition of economic efficiency. He then develops and illustrates an appropriate response to Second-Best Theory and investigates the moral and legal relevance of economic-efficiency analyses. Not only do virtually all economic, legal, and public policy thinkers misdefine economic efficiency, the author concludes, they also ignore or respond inadequately to Second-Best Theory when analyzing the economic efficiency of public choices and misassess the relevance of economic-efficiency conclusions both for moral evaluations and for the answer to legal-rights questions that is correct as a matter of law.

 

About the Author

Richard S. Markovits is the holder of the John B. Connally Chair in Law at The University of Texas Law School. He teaches and writes in the areas of antitrust, law and economics, constitutional law, and jurisprudence.