Welfare Economics Towards a More Complete Analysis
Description
Yew-Kwang Ng looks to make welfare economics more complete by discussing the recent inframarginal analysis of division of labour and by pushing welfare economics from the level of preference to that of happiness, making a reformulation of the foundation of public policy necessary. A theory of the third best is provided, with extension to the equality/efficiency issue. The remarkable conclusion of treating a dollar as a dollar provides a powerful simplification of public policy formulation in general and in cost-benefit analysis in particular.
Keywords
Business & EconomicsEconomicsTheoryPolitical SciencePublic PolicySocial PolicyPolitical EconomySocial Services & WelfareEconomic Policy
2003Book
Author(s)Yew-Kwang Ng
PublisherPalgrave Macmillan UK
ISBN9780333971215
LanguageEnglish
