The Pareto‐Scorza Polemic on Collective Economic Welfare

Michael McLure

Australian Economic Papers, 2000, vol. 39, issue 3, 347-371

Abstract: This paper reviews the 1902–03 polemic between Vilfredo Pareto and Gaetano Scorza, an Italian mathematician, on the validity of what is now referred to as the first law of welfare economics – i.e. the proposition that a point of equilibrium determined under conditions of free competition is Pareto optimal. It establishes that, contrary to the received view, Pareto did not write at cross‐purposes to Scorza and his work published after the polemic does not suggest that Pareto eventually sided with Scorza on the issue of collective economic welfare.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausecp:v:39:y:2000:i:3:p:347-371

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