Welfare Economics: Towards a More Complete Analysis

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Abstract

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.

Original languageEnglish
Place of PublicationNew York NY USA
PublisherPalgrave Macmillan
Number of pages368
Edition1st
ISBN (Electronic)9781403944061
ISBN (Print)9780333971215
DOIs
Publication statusPublished - 2004

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