Economists have long studied the efficiency of firms, industries, and entire economies. This volume brings together leading scholars to make connections between efficiency and a number of diverse areas of current interest to economists, including an examination of the efficiency of tax systems...

We study the link between second-best production efficiency and the constraints on income distribution imposed by private ownership of firms in economies with Ramsey taxation. We review the result of Dasgupta and Stiglitz [1972], Mirrlees [1972], Hahn [1973], and Sadka [1977] about firm-specific...