engleski

Beyond the ordinal welfare economics

This book relies on the crucial assumption that man has been born to be free and to satisfy his basic needs. I also assume that government acts to maximize general welfare and thereby economic growth. Many contemporary economists look at welfare economics as a relatively unimportant feature of the economic system. According to them, there is only a one way street between economic growth and welfare, that is, economic growth determines welfare and not vice versa. This book tries to direct readers toward a different relationship between economic growth and welfare: The higher the social welfare, the higher economic growth will be. The book addresses two important questions: • Is it possible to evolve a methodology for cardinal evaluation of individual or social welfare? • What factors determine a country's social welfare?

welfare; poverty; social welfare function

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