Abstract
Broadly speaking, welfare economics over the past three-quarters of a century deserves credit for many signal developments in the world economy: the expansion of free trade, the extension of competition, and the deregulation of industries such as transportation, energy, communications and finance. Every world leader with a university degree now probably subscribes to the broad principles of welfare economics — in theory, if not always in practice.
This chapter is based on a paper presented at Aoyama Gakuin University on 8 March 2010.
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© 2012 Martin C. McGuire
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McGuire, M.C. (2012). Social Welfare and Pareto Improvement. In: Kemp, M.C., Nakagawa, H., Uchida, T. (eds) Positive and Normative Analysis in International Economics. Palgrave Macmillan, London. https://doi.org/10.1057/9780230348202_6
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