Hicks's Valuation of Social income: an appraisal

Guglielmo Chiodi and Leonarda Ditta

The European Journal of the History of Economic Thought, 1999, vol. 6, issue 2, 242-270

Abstract: This paper attempts to reconstruct and assess the intellectual itinerary of Hicks on the valuation of social income. His 1958 and 1981 papers on that topic have been wholly ignored in the economic literature. In both of them differentmeasures of real income are provided. These show to what extenteach one of them can be relied upon. Our assessment argues that it is impossible to measure social income independentlyof the reasons for which that measure is required and that any valuation cannot ultimatelybe made independently of political and ethical considerations.

Keywords: social income; welfare; income distribution; value; aggregation (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1080/10427719900000028

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