The economics of social problems

The fourth edition of this classic textbook has been substantially revised to reflect changing social problems as well as recent policy developments. It adopts a common approach to each social problem, asking what are the government’s efficiency and equity objectives and looking at the extent to which they can be achieved through market-based or government interventions. The use of a simple yet rigorous economic framework makes this an essential introductory textbook for those with little experience of economics who are interested in how economic tools can be used to understand and shape public policy. The fourth edition features: * new chapters on climate change and pensions * a chapter on crime, featuring recent advances in measuring the costs of crime to society * substantial updating throughout * more international examples