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Welfare-reducing growth despite individual and government optimization

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Author Info

  • Siang Ng

    ()
    (Department of Economics, Monash University, Clayton, Australia 3168)

  • Yew-Kwang Ng

    ()
    (Department of Economics, Monash University, Clayton, Australia 3168)

Abstract

In the presence of substantial relative-income effects and environmental disruption effects, economic growth may be welfare-reducing even if each and all individuals are optimizing and eagerly trying to make more money and the government also maximizes the welfare of individuals by the choice of income-tax rate and the ratio devoted to the abatement of environmental disruption. Welfare-reducing growth may be avoided if environmental disruption may be directed taxed at low costs and/or government spending on public goods is not environmentally disruptive.

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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 18 (2001)
Issue (Month): 3 ()
Pages: 497-506

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Handle: RePEc:spr:sochwe:v:18:y:2001:i:3:p:497-506

Note: Received: 2 September 1998/Accepted: 16 February 2000
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Cited by:
  1. Tian, Guoqiang & Yang, Liyan, 2005. "How are Income and Non-Income Factors Different in Promoting Happiness? An Answer to the Easterlin Paradox," MPRA Paper 41209, University Library of Munich, Germany, revised Mar 2010.
  2. Guoqiang Tian & Liyan Yang, 2009. "Theory of negative consumption externalities with applications to the economics of happiness," Economic Theory, Springer, vol. 39(3), pages 399-424, June.
  3. John Gowdy & Aneel Salman, 2007. "Climate Change and Economic Development: A Pragmatic Approach (Invited Lecture)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 337-350.
  4. Lawn, Philip & Clarke, Matthew, 2010. "The end of economic growth? A contracting threshold hypothesis," Ecological Economics, Elsevier, vol. 69(11), pages 2213-2223, September.
  5. Basant Kapur, 2005. "Can faster income growth reduce well-being?," Social Choice and Welfare, Springer, vol. 25(1), pages 155-171, October.
  6. John M. Gowdy, 2004. "Toward a New Welfare Foundation for Sustainability," Rensselaer Working Papers in Economics 0401, Rensselaer Polytechnic Institute, Department of Economics.
  7. Gowdy, John, 2005. "Toward a new welfare economics for sustainability," Ecological Economics, Elsevier, vol. 53(2), pages 211-222, April.
  8. Wai Woo, 2011. "Status and welfare under monopolistic competition," Social Choice and Welfare, Springer, vol. 36(2), pages 227-239, February.
  9. Gjerde, Jon & Grepperud, Sverre & Kverndokk, Snorre, 2009. "On adaptation, life-extension possibilities and the demand for health," HERO On line Working Paper Series 2001:7, Oslo University, Health Economics Research Programme.
  10. Clarke, Matthew & Islam, Sardar M.N., 2005. "Diminishing and negative welfare returns of economic growth: an index of sustainable economic welfare (ISEW) for Thailand," Ecological Economics, Elsevier, vol. 54(1), pages 81-93, July.

Lists

This item is featured on the following reading lists or Wikipedia pages:
  1. Yew-Kwang Ng in Wikipedia (English)
  2. 黄有光 in Wikipedia (Chinese)

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