WELFARE-REDUCING GROWTH AND COST-BENEFIT ANALYSIS: ESSAY IN MEMORY OF E.J. MISHAN

Yew-Kwang Ng ()

The Singapore Economic Review (SER), 2016, vol. 61, issue 03, 1-9

Abstract: Mishan’s emphasis on the costs of economic growth half a century ago is becoming more important in this era of environmental concerns. More recently, another possible source of immiserizing growth is the one-child policy (recently relaxed) of China. This resulted in a biased sex-ratio and higher competition to earn incomes (to increase the probability of getting a wife), resulting in positive effects on GDP but negative effects on welfare. The implications of welfare-reducing growth for cost-benefit analysis and the legalization of prostitution are also discussed.

Keywords: Welfare-reducing growth; immiserizing growth; cost-benefits analysis; prostitution; polyandry (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1142/S0217590816400130

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