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Social Welfare and Pareto Improvement

In: Positive and Normative Analysis in International Economics

Author

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  • Martin C. McGuire

Abstract

Broadly speaking, welfare economics over the past three-quarters of a century deserves credit for many signal developments in the world economy: the expansion of free trade, the extension of competition, and the deregulation of industries such as transportation, energy, communications and finance. Every world leader with a university degree now probably subscribes to the broad principles of welfare economics — in theory, if not always in practice.

Suggested Citation

  • Martin C. McGuire, 2012. "Social Welfare and Pareto Improvement," Palgrave Macmillan Books, in: Murray C. Kemp & Hironobu Nakagawa & Tatsuya Uchida (ed.), Positive and Normative Analysis in International Economics, chapter 5, pages 84-100, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-34820-2_6
    DOI: 10.1057/9780230348202_6
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    Cited by:

    1. Britz, Wolfgang & Jafari, Yaghoob & Nekhay, Olexandr & Roson, Roberto, 2022. "Assessing inequality and poverty in long-term growth projections: A general equilibrium analysis for six developing countries," Economic Modelling, Elsevier, vol. 117(C).

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