William Baumol

Also known as William Jack Baumol, William J. Baumol

American economist (1922-2017)

Top works

via Open Library + Wikidata

5 total works indexed

via Crossref · CC0

“In order for a writer to produce something which is original and correct, it is not absolutely necessary that his predecessors have been wrong.”
“There seems to be a general consensus among informed observers that genuine cases of predation are very rare birds.”
“This book is... devoted to the study of economic policies to enhance the quality of life. Our willingness to embark on so considerable a subject only reflects our conviction that economists as a body have already made sufficient headway on these problems to make such an undertaking worthwhile.”
“The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities.”
“We cannot simply rely on a program of pollution abatement in country A [the polluting country] for this would impose costs on A with no offsetting benefits to the polluting country. The OECD’s Polluter-Pays-Principle is thus inconsistent with our insistence on a Pareto improvement. Mutual gains to the countries necessarily require the victim country B to make some payments to A.”
“The notion that our productivity problems reside in "the spirit of entrepreneurship" that waxes and wanes for unexplained reasons is a counsel of despair, for it gives no guidance on how to reawaken that spirit once it has lagged”