"Palda offers a novel and interesting perspective on ideas familiar to economists but which are not widely shared. This perspective will surely broaden the understanding of the political economy in which we live."
James M. Buchanan, Nobel Prize economics 1986
James M. Buchanan, Nobel Prize economics 1986
About the book
Did you ever want to understand why some societies are prosperous and peaceful while others live in a torment of discord and poverty?
In this ground-breaking book Filip Palda, Ph.D. in economics from the University of Chicago, the school that has produced the most Nobel Prize winners in economics, explains in a clear and engaging manner for non-experts and economists alike why economics is the science of peace and prosperity and why these twin goals of every society are based on Pareto efficiency.
This is the first guide for the layperson to understanding how politics and economics unite to give us the recipe for success and to provide the warning signs of disaster.
Every page provides rich insights into the economics of taxation, the economics of politics (so called Public Choice theory), game theory, and many other parts of economics and delves into important historical episodes to illustrate why Pareto efficiency is the only feasible route to peace and prosperity. The book is intended for anyone with an interest in understanding economics.
Did you ever want to understand why some societies are prosperous and peaceful while others live in a torment of discord and poverty?
In this ground-breaking book Filip Palda, Ph.D. in economics from the University of Chicago, the school that has produced the most Nobel Prize winners in economics, explains in a clear and engaging manner for non-experts and economists alike why economics is the science of peace and prosperity and why these twin goals of every society are based on Pareto efficiency.
This is the first guide for the layperson to understanding how politics and economics unite to give us the recipe for success and to provide the warning signs of disaster.
Every page provides rich insights into the economics of taxation, the economics of politics (so called Public Choice theory), game theory, and many other parts of economics and delves into important historical episodes to illustrate why Pareto efficiency is the only feasible route to peace and prosperity. The book is intended for anyone with an interest in understanding economics.
About the author
Filip Palda earned his Ph.D. in economics at the University of Chicago under the supervision of Nobel Prize winning economist Gary Becker. He is a full professor at the École nationale d'administration publique of the University of Quebec and a Senior Fellow with the Fraser Institute. Professor Palda is the author of more than 20 articles in refereed economic journals, six books, and is a high-scoring author on the RepEc website of economic working papers. He is best known for his work on exposing the self-interest politicians hold in crafting election finance laws and for his discovery of the displacement deadweight loss of tax evasion.
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About Pareto
Vilfredo Pareto was perhaps the greatest genius the social sciences have produced. Sociologist, historian, statistician, legal scholar, and economist. He made contributions of seminal importance to all these fields. He has a claim to coming up with most of the ideas that defined economics as it began its climb from intellectual obscurity at the start of the 1900's. Yet of all his hundreds of concepts and discoveries none has a more percussive impact on public policy than the concept of Pareto-efficiency. |
Who can read this book?
This book can be read from start to finish because it has a uniting theme: Pareto efficiency as a recipe for peace and prosperity. It has also been designed so that armed only with an interest in ideas you can go to any page and start learning ideas in economics, political science, and Public Choice theory, because everything in this book relates to some important idea in one or all of these fields. After reading this book you will be well on your way to understanding what economics is about and how it is really based on just one principle: Pareto efficiency.
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