Values, Facts and the Compensation Principle

Paul Streeten

Chapter 2 in Development Perspectives, 1981, pp 35-51 from Palgrave Macmillan

Abstract: Abstract The so-called New Welfare Economics sprang from the desire to allow the economist to make policy recommendations without committing him to interpersonal comparisons of satisfactions. It attempted to do this by announcing an unambiguous criterion for an increase in social income or an improvement in welfare, which was believed to be free of the taint of interpersonal comparisons.

Keywords: Income Distribution; Welfare Economic; Development Perspective; Real Income; Social Welfare Function (search for similar items in EconPapers)
Date: 1981
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DOI: 10.1007/978-1-349-05341-4_2

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