Description - Economic Analysis of Social Common Capital by Hirofumi Uzawa
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.
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(228mm x 152mm x 24mm)
Cambridge University Press
Publisher: Cambridge University Press
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Author Biography - Hirofumi Uzawa
Hirofumi Uzawa is Director of the Research Center on Social Common Capital at Doshisha University and Emeritus Professor of Economics at the University of Tokyo. In a teaching career spanning more than four decades he also taught at Stanford University, the University of Chicago, and Niigata and Chuo Universities. Professor Uzawa is a Fellow and former President of the Econometric Society and a former President of The Japan Association for Economics and Econometrics. He is a Member of the American Academy of Arts and Sciences, a Foreign Associate of the US National Academy of Sciences, a Foreign Honorary Member of the American Economic Association and a Member of the Japan Academy. Professor Uzawa has also been a Fellow of the Center for Advanced Study in the Behavioral Sciences at Stanford, an Overseas Fellow of Churchill College, Cambridge, and has served for more than 30 years as Senior Adviser in the Research Institute of Capital Formation at the DBJ. Hirofumi Uzawa has been one of the leading economic theorists for the past four decades. His contributions to economics cover virtually every branch of the field, ranging from the pure theory of consumer behavior to duality theory of production and capital, general equilibrium theory, endogenous theory of technical progress, two-sector analysis of capital accumulation, optimal growth theory, and the theory of social overhead capital. In recent decades he has become particularly well known for applied research in the areas of the economics of pollution, environmental disruption, and global warming as well as the economics of education and medical care. Professor Uzawa is the author of numerous articles in the world's leading journals in economics and more than twenty books, including the 1998 Preference, Production, and Capital: Selected Papers of Hirofumi Uzawa and the 2003 Economic Theory and Global Warming, both from Cambridge University Press. Twelve volumes of his papers were collected and published in Japanese