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The focus of this textbook is on the link between ethics and economic policy analysis. Basic philosophical concepts are systematically described, followed by conventional welfare economic theory and policy, and applications to some topical economic problems such as income distribution and sustainable development.
WILFRED BECKERMAN Visiting Professor of Economics, University College London, UK; and Emeritus Fellow of Balliol College, Oxford.
Table of Contents
Introduction Fact or Value? A Simple Example: Sustainable Development and the Discount Rate Positive Propositions and Value Judgements Fact and Value in Welfare Economics From Individuals' Choices to Their Welfare Pareto Optimality and the Social Welfare Function From Individuals' Welfare to Social Welfare Utilitarianism in Welfare Economics Critics of Utilitarianism GDP and Friends Happiness Why Equality? Equality of What? The Boundary of Society: The Boundary in Space The Boundary of Society: The Boundary in Time The Discount Rate Valuing Life Overview: Value Judgements in Welfare Economics Bibliography