Increasing Returns and Economic Efficiency (Hardback)
  • Increasing Returns and Economic Efficiency (Hardback)
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Increasing Returns and Economic Efficiency (Hardback)

(author)
£88.00
Hardback 200 Pages / Published: 30/04/2009
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Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain phenomena in the real world.

Publisher: Palgrave Macmillan
ISBN: 9780230202092
Number of pages: 200
Weight: 411 g
Dimensions: 216 x 140 x 16 mm


MEDIA REVIEWS

'The role of increasing returns in the economy has been studied since the time of Adam Smith, yet it does not accord well with standard theories of competitive equilibrium. Yew-Kwang Ng has now presented in a comprehensive fashion the implications of taking increasing returns seriously and shown how they can be analyzed in a useful and highly original manner.' - Professor Kenneth Arrow, Nobel Laureate in Economics, Stanford University, US.

'Our failure to grapple adequately with the challenges of increasing returns is one of the great scandals of economics. But the problems are so hard that most people just look away. So hooray for Yew-Kwang Ng, who in this book shows that we can make progress in this area, and that incorporating increasing returns makes a fundamental difference to how we see the world.' - Professor Geoffrey Heal, Columbia Business School, US.

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