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Welfare Economics Beyond Welfarist-Consequentialism

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  • Kotaro Suzumura

Abstract

Capitalizing on the recent work in social choice theory, we re-examine the foundations of post-Pigovian welfare economics and social choice theory. The structure of the "old" and "new" welfare economics is critically scrutinized, and the culprit of the poverty of welfare economics as well as Arrovian social choice theory is boiled down to their common information basis to be called the welfarist-consequentialism. Alternative avenues one may try out to escape from the poverty of normative economics are identified and examined, which are focused on interpersonal comparisons of welfare levels, preference for opportunities, and procedural fairness of social choice, respectively.

Suggested Citation

  • Kotaro Suzumura, 1999. "Welfare Economics Beyond Welfarist-Consequentialism," Discussion Paper Series a382, Institute of Economic Research, Hitotsubashi University.
  • Handle: RePEc:hit:hituec:a382
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    Cited by:

    1. Yasuhito Tanaka, 2009. "On the computability of quasi-transitive binary social choice rules in an infinite society and the halting problem," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 32(1), pages 67-78, May.
    2. Walter Bossert & Kotaro Suzumura, 2011. "Multi-profile intergenerational social choice," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(3), pages 493-509, September.
    3. Bossert, Walter & Suzumura, Kotaro, 2009. "Decisive coalitions and coherence properties," PIE/CIS Discussion Paper 427, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.

    More about this item

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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