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Social Welfare Functions and Development - Measurement and Policy Applications (Hardcover, 1st ed. 2016)
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Social Welfare Functions and Development - Measurement and Policy Applications (Hardcover, 1st ed. 2016)
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Nanak Kakwani and Hyun Hwa Son make use of social welfare functions
to derive indicators of development relevant to specific social
objectives, such as poverty- and inequality-reduction. Arguing that
the measurement of development cannot be value-free, the authors
assert that if indicators of development are to have policy
relevance, they must be assessed on the basis of the social
objectives in question. This study develops indicators that are
sensitive to both the level and the distribution of individuals'
capabilities. The idea of the social welfare function, defined in
income space, is extended to the concept of the social well-being
function, defined in capability space. Through empirical analysis
from selected developing countries, with a particular focus on
Brazil, the authors shape techniques appropriate to the analysis of
development in different dimensions. The focus of this
evidence-based policy analysis is to evaluate alternative policies
affecting the capacities of people to enjoy a better life.
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