A Comment on "Economic Inefficiency: A Failure of Economists.".

Bohanon, Cecil E.

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Peer reviewed

ERIC Number: EJ426421

Record Type: Journal

Publication Date: 1990

Pages: N/A

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ISSN: ISSN-0022-0485

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A Comment on "Economic Inefficiency: A Failure of Economists."

Bohanon, Cecil E.

Journal of Economic Education, v21 n4 p427-31 Fall 1990

Critiques Michael Staten and John Umbeck's article ("Journal of Economic Education," Winter 1989) on the concept of inefficiency in applied economic analysis. Suggests the Staten-Umbeck article is useful in forcing a precise analysis of the exercise of welfare economics. Concludes that the term efficient is semantic and provides an exercise to illustrate this concept. (SLM)

Descriptors: Cost Effectiveness, Economics, Economics Education, Efficiency, Financial Policy, Higher Education, Resource Allocation

Publication Type: Journal Articles; Opinion Papers

Education Level: N/A

Audience: Teachers; Practitioners

Language: English

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Authoring Institution: N/A

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Author Affiliations: N/A