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Karl William Kapp

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EntityQ89061· pop 8· linked from 46 articles

Karl William Kapp

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American economist (1910–1976)

Person · Open Library

Works
3

Top works

  • History of Economic thought ; a book of readings (Formely published as Readings in economics). Ed. by K. William Kapp and Lore L. Kapp
  • The social costs of private enterprise
  • Erneuerung der Sozialwissenschaften

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Music · MusicBrainz

Type
Person
Country
US
Active from
1958-02-01
Active to
2020-03-24

via MusicBrainz · CC0

Quotes

  • Whenever social costs are shifted onto economically and politically weaker sections of society without compensation, a redistribution of the costs of production, hence real income is involved.
  • Had there been a computer in 1872... it would probably have predicted that there would be so many horse-drawn vehicles that it would be impossible to clear up all the manure.
  • Social costs... are all direct and indirect losses sustained by third persons or the general public as a result of unrestrained economic activities.
  • To ignore social costs because they require an evaluation by society... and to leave social losses out of account because they are 'external' and 'non-economic' in character, would be equivalent to attributing no or ‘zero’ value to all social damages which is no less arbitrary and subjective a judgement than any positive or negative evaluation of social costs.
  • They (social costs) are damages or diseconomies sustained by the economy in general, which under different institutional conditions could be avoided. [. . .] if these costs were inevitable under any kind of institutional arrangement they would not really present a special theoretical problem. [. . .] to reveal their origin, the study of social costs must always be an institutional analysis. Such an analysis raises inevitably the question of institutional reform and policy.
  • Capitalism must be regarded as an economy of unpaid costs, ‘unpaid’ in so far as a substantial portion of the actual costs of production remains unaccounted for in entrepreneurial outlays; instead they are shifted to, and ultimately borne by, third persons or by the community as a whole.

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