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.
Original language | English |
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Article number | 1640013 |
Number of pages | 9 |
Journal | Singapore Economic Review |
Volume | 61 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Jun 2016 |
Externally published | Yes |
Keywords
- cost-benefits analysis
- immiserizing growth
- polyandry
- prostitution
- Welfare-reducing growth