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Welfarism, Libertarian Paternalism and Political Economy: Three Perspectives on Economic Expertise

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  • Valérie Clément
  • Alain Marciano

Abstract

This paper proposes and compares different characterization of what an economic expert is — his/her role, functions and legitimacy — according to different conceptions of economics: welfarism, libertarian paternalism and positive political economy. We show that both welfarism and libertarian paternalism allows expert to impose their views, their preferences to the individuals. This is not the case with political economy.

Suggested Citation

  • Valérie Clément & Alain Marciano, 2011. "Welfarism, Libertarian Paternalism and Political Economy: Three Perspectives on Economic Expertise," Working Papers 11-23, LAMETA, Universtiy of Montpellier, revised Nov 2011.
  • Handle: RePEc:lam:wpaper:11-23
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    File URL: http://www.lameta.univ-montp1.fr/Documents/DR2011-23.pdf
    File Function: First version, 2011
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    References listed on IDEAS

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    1. Peter Boettke & Steven Horwitz, 2005. "The Limits of Economic Expertise: Prophets, Engineers, and the State in the History of Development Economics," History of Political Economy, Duke University Press, vol. 37(5), pages 10-39, Supplemen.
    2. Richard H. Thaler & Cass R. Sunstein, 2003. "Libertarian Paternalism," American Economic Review, American Economic Association, vol. 93(2), pages 175-179, May.
    3. Mongin, Philippe, 2001. "The impartial observer theorem of social ethics," Economics and Philosophy, Cambridge University Press, vol. 17(02), pages 147-179, October.
    4. James M. Buchanan, 1962. "The relevance of Pareto optimality," Journal of Conflict Resolution, Peace Science Society (International), vol. 6(4), pages 341-354, December.
    5. David M. Levy & Sandra J. Peart, 2008. "Analytical Egalitarianism," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(3), pages 473-479, July.
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