On a fallacy in the Kaldor-Hicks efficiency-equity analysis
March 18, 2014 By admin
- removes a major plank in the vision of economics based on some given notion of “social welfare” (usually vulgarized as “social wealth”);
- supports the exchange-oriented or catallactics vision of economics in Austrian economics and in the Lausanne School of Walras and Pareto which does not countenance any overarching notion of social welfare; and
- which is consistent with a rights-based treatment of normative economics which treats individuals as ends-in-themselves (e.g., the labor theory of property and inalienable rights theory).
Click here to download the Online First paper in the journal Constitutional Political Economy.
Nenhum comentário:
Postar um comentário