Laissez-faire versus Pareto

Kristof Bosmans () and Z. Emel Öztürk ()
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Kristof Bosmans: Maastricht University
Z. Emel Öztürk: Tilburg University

Social Choice and Welfare, 2022, vol. 58, issue 4, No 3, 751 pages

Abstract: Abstract Consider two principles for social evaluation. The first, “laissez-faire”, says that mean-preserving redistribution away from laissez-faire incomes should be regarded as a social worsening. This principle captures a key aspect of libertarian political philosophy. The second, weak Pareto, states that an increase in the disposable income of each individual should be regarded as a social improvement. We show that the combination of the two principles implies that total disposable income ought to be maximized. Strikingly, the relationship between disposable incomes and laissez-faire incomes must therefore be ignored, leaving little room for libertarian values.

Date: 2022
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DOI: 10.1007/s00355-021-01373-4

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