Social justice has become a main objective of economic policy and so often dominates efficiency considerations. In the history of economic thoughts the trade off between efficiency and justice has often been discussed but remained an unsolved problem. In using a simple approach of standard welfare economics the trade-off can be clarified and at least some theoretical arguments found that compulsory income redistribution is usually connected with disincentives and more or less serious efficiency losses.
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Paper provided by Athens University of Economics and Business, Department of International and European Economic Studies in its series Athens University of Economics and Business with number
92.
Length: 34 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:athebu:92
Contact details of provider: Postal: Athens University of Economics and Business, Department of International and European Economic Studies. Parission 76, Athens Greece 10434 Phone: +30 1 8203250 Fax: +301 8228419 Web page: http://www.aueb.gr/ More information through EDIRC
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Find related papers by JEL classification: D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement