Multifunktionalität und das Dilemma der Liberalisierung
In: List Forum Band 32
The term multifunctionality makes it clear that economic action is, indeed, constitutionally linked with a lot of externalities. From these externalities only some have a meaningful monetary value. And only in certain cases it is efficient to internalise them. We show that the reductionist approach of welfare economics is of steadily decreasing meaning due to a change of social values. By broading the scope of welfare econmics, negative aspects of free trade are traced which visualise a dilemma of liberalization.(Original text only available in german language)
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