This paper reflects on consequentialism which underlies the traditional normative economics. It asserts that the informational basis of normative economics should be expanded so that the intrinsic value of social choice procedures should be properly taken into account along with the value of...

About 50 years ago a lively discussion was started in the 'Notes and Memoranda' sections of the Economic Journal about the new welfare economics that had been initiated by Kaldor and Hicks 10 years earlier and was heavily criticized by Little in 1950. Altogether 18 Notes appeared dealing with...

We analyze various normatively determined distributions of language rights in multilingual settings. A general model for the analysis of language rights over time in a model with overlapping generations is set up. This model is then first used to find efficient allocations of rights in the...

<p>This paper seeks to understand temporal changes in poverty and well-being in Indian cities during the era of economic reforms. The evidence on improvements in well being is mixed. During this period, there was an increase in the number of urban poor. Using two nationally representative samples,...</p>

This work assesses the impact of macroeconomic cycles on poverty composition in the Brazilian economy (1987 – 2005). Specifically, it intends to find answers to three questions: first, who are the demographic groups that are most harmed in the recessive cycles; second, if economic growth in...

Paul .A. Samuelson, the first American Nobel laureate in Economics and the foremost academic economist of the 20th century. As a graduate student at Harvard, Samuelson studied Economics under Joseph Schumpeter, W.W. Leontief, Goldfried Haberler and the ‘American Keynes’ Alvin Hansen. He was...

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