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Postscript: The Use and Misuse of the Market

In: The Economics of Social Problems

Author

Listed:
  • Julian Grand

    (The University of Sussex)

  • Ray Robinson

    (The University of Sussex)

Abstract

In the first chapter we presented two objectives which society might have in allocating scarce resources between its members: those of efficiency and equity. In subsequent chapters we have discussed how market and non-market systems can be used to allocate resources in certain ‘problem’ areas, and whether their use can achieve an efficient and equitable allocation of resources in the area concerned. In these discussions, certain key issues have emerged repeatedly. Many of the difficulties involved in allocating resources within these areas have strong links with one another; indeed, many are simply aspects of the same conceptual problems. It is the purpose of this final chapter to try to isolate and to emphasise these links; and to draw out from the discussions some general lessons about different systems of resource allocation.

Suggested Citation

  • Julian Grand & Ray Robinson, 1976. "Postscript: The Use and Misuse of the Market," Palgrave Macmillan Books, in: The Economics of Social Problems, chapter 0, pages 222-232, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15632-0_10
    DOI: 10.1007/978-1-349-15632-0_10
    as

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