The Price of Virtue: The Economic Value of the Charitable Sector
The Price of Virtue: The Economic Value of the Charitable Sector Publisher: Edward Elgar Publishing | ISBN: 1840644850 | edition 2001 | PDF | 256 pages | 4.67 MB
It is well known that the voluntary sector in modern society is large in terms of economic activity - but how large? The authors of this pioneering book attempt to address this problem by utilizing survey techniques, originally developed in environmental economics, to place an economic value on the benefits provided by the voluntary sector in the UK.
The authors comprehensively detail the analytical foundations of their survey methodology, a stated preference approach, and the results which were achieved. The economic value of the voluntary sector is elicited by discovering the general public's willingness to pay, to maintain charitable services that are at a hypothetical risk of closure. This willingness to pay is shown to be an important element of the economic value of the voluntary sector. The authors move on to investigate the benefits provided by the charitable sector in general and by housing and homelessness charities in particular.
The book considers how, if people are willing to pay more for charities than they actually do, this economic surplus can be captured and turned into flows of income for the charities themselves. Fiscal incentives, the efficacy of various fund-raising methods and the benefits of population targeting are all examined as a means to this end. The book also discusses whether the value of charities can be defined in a wider context in terms of social capital.
A study of the economic value of the charitable sector, seeking to improve upon rudimentary evaluations of the sector in terms of its income. It demonstrates how much charity adds to the economy, and how much good economics can add to charity. The authors adapt techniques for "willingness-to-pay" and "willingness-to-accept" even in apparently intractable cases like that of the homeless. The text should be useful to those working in the charitable sector, for those researching it and for relevant government departments.
'Overall, a marvellously provocative work that will influence the research agenda for years to come.' -- Peter Halfpenny, University of Manchester, UK
I recommend this book to those who are interested in the importance of the charitable sector. -- - John Lunn, Journal of Markets & Morality
Overall, a marvelously provocative work that will influence the research agenda for years to come. -- – Peter Halfpenny, University of Manchester, UK
This book is an important contribution to the current debate about the role of the charitable sector. -- – Michael Brophy, Charities Aid Foundation, UK
[This book shows] how much charity adds to our economy, and how much good economics can add to charity. -- – Helmut Anheier, London School of Economics, UK
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25-01-2010
The Price of Virtue: The Economic Value of the Charitable Sector
