Roger A. McCain – författare

Although it was an important specialization in economics in the mid-twentieth century, welfare economics has received less attention in the twenty-first century. This book explores the history of welfare economics, with a view to explaining its rise and subsequent decline.

Drawing on both philosophy and economics, this book offers a new and original perspective on the history of welfare economics, starting with Pigou and charting the trajectory of applied and theoretical welfare economics throughout the twentieth century.

This book will be of interest to students and researchers of philosophy, economics and history of economic thought.

Although it was an important specialization in economics in the mid-twentieth century, welfare economics has received less attention in the twenty-first century. This book explores the history of welfare economics, with a view to explaining its rise and subsequent decline.

Drawing on both philosophy and economics, this book offers a new and original perspective on the history of welfare economics, starting with Pigou and charting the trajectory of applied and theoretical welfare economics throughout the twentieth century.

This book will be of interest to students and researchers of philosophy, economics and history of economic thought.

Roger McCain explores economics as the study of cooperative arrangements, or the ways in which people work together. He asserts that there is no ''new paradigm'', but rather a more encompassing cognitive frame. In the same spirit, the book borrows freely, without doctrinarism, from Austrian and other heterodox traditions - including Marxism where it is helpful - and social philosophers in the social contract tradition. Game theory of both branches plays a key role throughout.

Presenting an innovative new framework for the major topics that together make up economic theory, this highly accessible book will strongly appeal to economics scholars, researchers and students, especially those in the fields of heterodox economics and the history of economic thought.

A veil-of-ignorance device of representation of rational fairness is used to argue that these criteria are normatively relevant. Applications to intergenerational fairness, fairness among regions in the context of migration, externalities and Pigovian taxes, to fair prices and wages, and to relative fairness in the status of racial and caste groups are sketched. The book is designed with real world public policy practice.

Scholars with an interest in the economic evaluation of public policy will find this compelling book essential reading.