The Economics of Control (Reprints of economic classics)

This work develops a completely general set of principles, based on the equation of marginal costs and marginal benefits, which would be applied to improve the performance of any economy. Lerner's utilitarian argument for perfect equality in the distribution of income and his neo-Keynesian exposition of the principles of 'functional finance' are also noteworthy. "Lerner's best book became and remains the most comprehensive non-mathematical text on welfare economics." The New Palgrave