Welfare-reducing growth despite individual and government optimization
In the presence of substantial relative-income effects and environmental disruption effects, economic growth may be welfare-reducing even if each and all individuals are optimizing and eagerly trying to make more money and the government also maximizes the welfare of individuals by the choice of income-tax rate and the ratio devoted to the abatement of environmental disruption. Welfare-reducing growth may be avoided if environmental disruption may be directed taxed at low costs and/or government spending on public goods is not environmentally disruptive.
Year of publication: |
2001-07-12
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Authors: | Ng, Siang ; Ng, Yew-Kwang |
Published in: |
Social Choice and Welfare. - Springer. - Vol. 18.2001, 3, p. 497-506
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Publisher: |
Springer |
Saved in:
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