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Economic Growth and Social Welfare - Operationalising Normative Social Choice Theory (Hardcover, New)
Loot Price: R3,877
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Economic Growth and Social Welfare - Operationalising Normative Social Choice Theory (Hardcover, New)
Series: Contributions to Economic Analysis
Expected to ship within 12 - 17 working days
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This book studies the relationships between economic growth and
social welfare and the policy implications of these relationships
for development. Understanding the relationships between economic
growth and social welfare is an enduring issue within contemporary
development economics and welfare economics. These relationships
are analysed in this book by operationalising normative social
choice theory. Normative social choice theory is an appropriate
approach as it explicitly incorporates society's preferences,
values and choices in determining how social welfare should be
defined and measured. Two approaches, aggregate and hierarchical,
are developed and empirically applied to Thailand for a twenty-five
year period 1975-1999. This book concludes that in terms of social
welfare, economic growth cannot always be assumed desirable. What
is needed is social welfare enhancing economic growth. A review of
the policy implications of this finding is also undertaken.
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