The well known Pareto criterion used in the context of efficiency and welfare has to do with absolute changes whereas …

the welfare of capitalists; (iii) capitalists and workers preferences, regarding the optimal amount of "capitalist bias …

involved. This seems to contradict normative individualism, which provides the general orientation to our modern democracies … actions, there is no longer a necessary contradiction between paternalism and normative individualism. As far as we know today …

We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure … public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a … an income-equalizing one may raise social welfare. We also show that if altruistically motivated voluntary transfers are …

Traditionally, it has been argued that profit sharing can increase employment and welfare because it lowers marginal …

absolute welfare is non-existent in trade literature. In a simple HOS model we consider tax-transfer policies that keep the pre …

gets increasingly polluted, consumption falls and generational welfare levels decline. A government introduces costly … to decline, generating downstream welfare gains, some of which the government taxes away, without hurting anyone, to help …

too long may have considerable welfare costs: Income inevitably falls below the threshold in finite time so that Pareto …