Karl William Kapp: Economics

Karl William Kapp was American economist. Explore interesting quotes on economics.
Karl William Kapp: 12   quotes 0   likes

“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.”

Karl William Kapp

Knapp, 1972 cited in: Sebastian Berger and Mathew Forstater (2007) "Toward a Political Institutionalist Economics: Kapp’s Social Costs, Lowe’s Instrumental Analysis, and the European Institutionalist Approach to Environmental Policy". In: Journal of Economic Issues. Vol.XLI, No.2, June 2007. p. 539

“Social costs… are all direct and indirect losses sustained by third persons or the general public as a result of unrestrained economic activities.”

Karl William Kapp

Source: Social Costs of Business Enterprise, 1963, p. 12. Cited in: M. Rangone & S. Solari (2012) "Southern European capitalism and the social costs of business enterprise". in: Studi e Note di Economia, Anno XVII, n. 1-2012, pp. 3-28

Loss , Personality

“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.”

Karl William Kapp

Source: Social Costs of Business Enterprise, 1963, p. 12. Cited in: M. Rangone & S. Solari (2012) "Southern European capitalism and the social costs of business enterprise". in: Studi e Note di Economia, Anno XVII, n. 1-2012, pp. 3-28

Loss