Social Welfare and Pareto Improvement

Martin McGuire ()

Chapter 5 in Positive and Normative Analysis in International Economics, 2012, pp 84-100 from Palgrave Macmillan

Abstract: Abstract Broadly speaking, welfare economics over the past three-quarters of a century deserves credit for many signal developments in the world economy: the expansion of free trade, the extension of competition, and the deregulation of industries such as transportation, energy, communications and finance. Every world leader with a university degree now probably subscribes to the broad principles of welfare economics — in theory, if not always in practice.

Keywords: Welfare Economic; Normative Analysis; Pareto Improvement; Compensate Variation; Leaky Bucket (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230348202_6

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