Economic Behavior And Distributional Choice: Selected Writings Of Harold M. Hochman

Originally published between 1969 and 1996, these 16 essays by Hochman (political economy, Lafayette College) are presented as a representative sampling of his work. All but a handful of the selections relate to the first article on Pareto optimal redistribution, which spells out the relationship between utility interdependence and the logic of redistributive income transfers, effected through fiscal means.

Although reflecting a pro-market bias, his approach suggests that transfers of wealth from rich to poor may benefit everyone and be necessary for allocative efficiency, interpreted as a minimal condition of welfare maximization. Annotation c. Book News, Inc., Portland, OR (booknews.com)