Markets, State, and People: Economics for Public Policy

Markets, State, and People offers a new way of approaching public economics, by stressing the basics of welfare economics and the interplay between individual and collective choices. It fills a gap by showing how economic theory relates to current policy questions, with a look at incentives, institutions, and efficiency. How should resources in society be allocated for the most economically efficient outcomes, and how does this sit with society’s sense of fairness?