Tag Archives: competition for the field

The Economics Of Edwin Chadwick: Incentives Matter – by Robert B. Ekelund

October 5, 2012

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There is no shortage of social and economic problems afflicting contemporary developed societies in the twenty-first century.  Many issues, mentioning only a few, relate to transportation, externalities such as greenhouse gases, information assymmetric problems, sanitation and a clogged criminal justice system.  Economics and the other social sciences have risen to these challengers with theory and evidence concerning property rights, information, externalities, free rider issues and the problems posed by common pools.  Incredibly, there was a “traditional” economist  — at least in the tradition of Jeremy Bentham and Adam Smith — working in the classical period of the nineteenth century that offered solutions to such problems. 

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