On the Convergence of Efficiency and Equity via Neoclassical Prescriptions

In: Journal of Interamerican studies and world affairs, Band 31, Heft 1-2, S. 49-62

Abstract

The most exciting prospect in Latin American political economy and public policy is the possibility of pursuing the objectives of equity and efficiency through the same neoclassical policy instruments. In light of conventional views, this convergence is remarkable, perhaps even shocking. We often juxtapose efficiency and equity, along with the ideological positions associated with each. It is common to link Leftist political approaches both to statism and to progressive income distribution, thereby linking statism to progress.