An Unbiased Pareto Improvement strategy for poverty alleviation
AbstractThere are historical and institutional reasons behind our economic problems like poverty and environmental damage but it is not acceptable if they persist in years to come. The strategic use of information by individual economic agents establishes a biasing effect on our economy. In case of poverty, economic efforts of poor people are continuously undervalued and therefore, true welfare across an economy cannot be achieved without protecting the poor people for their immediate economic needs and simultaneously counteracting the biasing forces. This article describes an Unbiased Pareto Improvement (UPI) strategy to be implemented across an economy and eventually across the world to solve poverty problems. This strategy describes making business opportunities involving poor people as well as helping government to set up pro-poor economic policies and infrastructures. A new indicator RICR (Real Income to Contribution Ratio) is introduced to measure its performance.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 27800.
Date of creation: 31 Dec 2010
Date of revision:
Bangladesh; Economics of information; micro credit; micro finance; Pareto improvement; poverty; social business; real income; Yunus;
Find related papers by JEL classification:
- E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
- I30 - Health, Education, and Welfare - - Welfare and Poverty - - - General
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty
- P41 - Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- P44 - Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation
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