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Markets, State, and People: Economics for Public Policy

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Hardcover: 376 pages Publisher: Princeton University Press (January 14, 2020) Language: English ISBN-10:

0691179263 ISBN-13: 978-0691179261 Product Dimensions: 6.5 x 1 x 9.5 inches Shipping Weight: 1.7

pounds (View shipping rates and policies)

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Book Description

A textbook that examines how societies reach decisions about the use and allocation of economic

resources While economic research emphasizes the importance of governmental institutions for

growth and progress, conventional public policy textbooks tend to focus on macroeconomic

policies and on tax-and-spend decisions. Markets, State, and People stresses 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? Diane Coyle illustrates the ways

economic ideas are the product of their historical context, and how events in turn shape economic

thought. She includes many real-world examples of policies, both good and bad. Readers will

learn that there are no panaceas for policy problems, but there is a practical set of theories and

empirical findings that can help policymakers navigate dilemmas and trade-offs. The decisions

faced by officials or politicians are never easy, but economic insights can clarify the choices to be

made and the evidence that informs those choices. Coyle covers issues such as digital markets and

competition policy, environmental policy, regulatory assessments, public-private partnerships,

nudge policies, universal basic income, and much more. Markets, State, and People offers a new

way of approaching public economics. A focus on markets and institutions Policy ideas in

historical context Real-world examples How economic theory helps policymakers tackle

dilemmas and choices

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