Economic Analysis of Social Common Capital (Hardcover) (ISBN-13: 9780521847889)

Social common capital provides members of society with those services and institutional arrangements that are crucial in maintaining human and cultural life. The term "social common capital" is comprised of three categories: natural capital, social infrastructure, and institutional capital. Natural capital consists of all natural environment and natural resources including the earth's atmosphere. Social infrastructure consists of roads, bridges, public transportation systems, electricity, and other public utilities. Institutional capital includes hospitals, educational institutions, judicial and police systems, public administrative services, financial and monetary institutions, and cultural capital. This book attempts to modify and extend the theoretical premises of orthodox economic theory to make them broad enough to analyze the economic implications of social common capital. It further aims to find the institutional arrangements and policy measures that will bring about the optimal state of affairs in which the natural and institutional components are blended together harmoniously to realize the sustainable state as suggested by John Stuart Mill.

Author: Hirofumi Uzawa
ISBN-10: 0521847885
ISBN-13: 9780521847889
Publisher: Cambridge University Press
Language: English
Published: 06/06/2005
Pages: 418
Format: Hardcover
Weight: 1.40lbs
Size: 9.10h x 6.10w x 1.00d