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Freedom in Welfare Economics

Author

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  • Yongsheng Xu

    (Department of Economics, Andrew Young School of Policy Studies, Georgia State University, Atlanta, GA 30303, USA)

Abstract

This paper discusses the recent economics literature on ranking opportunity sets in terms of freedom. It focuses on (i) the intuitive significance of freedom in assessing economic and public policies, (ii) the measurement of freedom offered by various opportunity sets, and (iii) the conception of opportunity set in a world of interdependence among individuals. This paper also points out some open issues and problems that deserve further investigations.

Suggested Citation

  • Yongsheng Xu, 2016. "Freedom in Welfare Economics," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 11(1), pages 104-122, March.
  • Handle: RePEc:fec:journl:v:11:y:2016:i:1:p:104-122
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    File URL: http://journal.hep.com.cn/fec/EN/10.3868/s060-005-016-0007-7
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    More about this item

    Keywords

    freedom; preference; utility; measurement of freedom;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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