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Equilibrium Growth. (III) Normative Properties

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

Devoted to establishing the optimality of competitive equilibrium paths of various orders. So far three kinds of equilibrium growth paths have been discussed in the book: the Cassel–von Neumann path ... More


Efficiency, auction and exchange

Jules L. Coleman

in Markets, Morals, and the Law

Published in print:
2002
Published Online:
January 2010
ISBN:
9780199253609
eISBN:
9780191719783
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199253609.003.0003
Subject:
Law, Competition Law

This chapter distinguishes between Pareto optimality, Pareto superiority, and Kaldor-Hicks efficiency, and provides an extended discussion of the Coase theorem. One of the central claims in this ... More


Welfare Economics, Utilitarianism, and Equity

Amartya Sen

in On Economic Inequality

Published in print:
1973
Published Online:
November 2003
ISBN:
9780198281931
eISBN:
9780191715815
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281935.003.0001
Subject:
Economics and Finance, Public and Welfare

The usefulness of the main schools of welfare economics (old and new) in measuring inequality is analysed. It is noted that the literature on Pareto optimality avoids distributional judgements ... More


Efficiency of what?—Assessing efficiency arguments in the context of tax competition

Peter Dietsch

in Catching Capital: The Ethics of Tax Competition

Published in print:
2015
Published Online:
August 2015
ISBN:
9780190251512
eISBN:
9780190251543
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190251512.003.0004
Subject:
Philosophy, Political Philosophy, Moral Philosophy

The concept of efficiency is used in different ways in economics. First, the practical relevance of models that conclude that tax competition is either Pareto optimal or not is limited, because we do ... More


An Alternative Approach: Remodelling and Refinements

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0015
Subject:
Economics and Finance, Development, Growth, and Environmental

The argument developed in the previous chapter was based on the tacit assumption that the production of goods by means of goods and labour is independent of the feeding of labour, and was described ... More


Walras‐Type Model of Match‐Box Size

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

Introduces multi‐sectoral growth analysis. Mainly devoted to examining a Walrasian general equilibrium model of capital formation on the smallest possible scale. It is assumed that the economy ... More


Public, Private and Environmental Goods

Agnar Sandmo

in The Public Economics of the Environment

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198297987
eISBN:
9780191596858
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019829798X.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental

The basic general equilibrium model of resource allocation is extended to take environmental goods and externalities into account. The conditions for social welfare maximization and Pareto optimality ... More


Trade-offs: selection, phylogeny, and constraint

Graham K. Taylor and Adrian L. R. Thomas

in Evolutionary Biomechanics

Published in print:
2014
Published Online:
April 2014
ISBN:
9780198566373
eISBN:
9780191779459
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198566373.003.0008
Subject:
Biology, Evolutionary Biology / Genetics, Ornithology

This chapter uses multi-objective optimization theory to examine how natural selection resolves trade-offs among multiple conflicting performance objectives. Because physical constraint is universal, ... More


Against Real Unfreedom: Equality and Neutrality

Gijs van Donselaar

in The Right to Exploit: Parasitism, Scarcity, and Basic Income

Published in print:
2009
Published Online:
September 2009
ISBN:
9780195140392
eISBN:
9780199871483
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195140392.003.0006
Subject:
Philosophy, Moral Philosophy

This chapter discusses an argument that we should nevertheless be committed to equal property rights in external resources, on account of our (broadly liberal) commitment to freedom as a fundamental ... More


Unanimity

Jules L. Coleman

in Markets, Morals, and the Law

Published in print:
2002
Published Online:
January 2010
ISBN:
9780199253609
eISBN:
9780191719783
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199253609.003.0011
Subject:
Law, Competition Law

This chapter explores the view that, on both economic and moral grounds, unanimity is the preferable voting rule. Unanimity captures the essential Paretian and consensual features of market exchange, ... More


Capitalism and Human Progress

Kwame Anthony Appiah

in Performance and Progress: Essays on Capitalism, Business, and Society

Published in print:
2015
Published Online:
September 2015
ISBN:
9780198744283
eISBN:
9780191805691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198744283.003.0008
Subject:
Business and Management, Corporate Governance and Accountability

This chapter discusses the relationship between capitalism and progress and ends with a discussion of three mechanisms for reducing some of the problems associated with markets. A familiar argument ... More


Justice, Pareto, and Equality

Alan Thomas

in Republic of Equals: Predistribution and Property-Owning Democracy

Published in print:
2016
Published Online:
December 2016
ISBN:
9780190602116
eISBN:
9780190602130
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190602116.003.0002
Subject:
Philosophy, Political Philosophy, General

This chapter sets out the details of John Rawls’s theory of justice and explains why his view includes a concern with regulating the “top end” of any distribution. It is not simply concerned with ... More


Some Failures of the Economy

Kenneth J. Arrow

in Performance and Progress: Essays on Capitalism, Business, and Society

Published in print:
2015
Published Online:
September 2015
ISBN:
9780198744283
eISBN:
9780191805691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198744283.003.0004
Subject:
Business and Management, Corporate Governance and Accountability

This chapter lays out some of the ways in which the current capitalist market economy fails to achieve some human needs and its own full potential. It is not intended to be comprehensive. For one, it ... More


The Ethics of Privatization

Scott Lehmann

in Privatizing Public Lands

Published in print:
1995
Published Online:
November 2020
ISBN:
9780195089721
eISBN:
9780197560587
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780195089721.003.0011
Subject:
Earth Sciences and Geography, Economic Geography

Insofar as arguments for privatization can be read as appealing to general ethical conceptions, they acquire greater depth and, perhaps, respectability. The argument ... More


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