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A reformulation of the foundations of welfare economics

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  • Randall Holcombe

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  • Randall Holcombe, 2009. "A reformulation of the foundations of welfare economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(3), pages 209-224, September.
    • Handle: RePEc:kap:revaec:v:22:y:2009:i:3:p:209-224
    DOI: 10.1007/s11138-009-0089-1
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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
    3. Herbener, Jeffrey M, 1997. "The Pareto Rule and Welfare Economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 10(1), pages 79-106.
    4. Frey, Bruno S & Stutzer, Alois, 2000. "Happiness, Economy and Institutions," Economic Journal, Royal Economic Society, vol. 110(466), pages 918-938, October.
    5. Baumol, William J., 1996. "Entrepreneurship: Productive, unproductive, and destructive," Journal of Business Venturing, Elsevier, vol. 11(1), pages 3-22, January.
    6. Smith, Vernon L, 1974. "Economic Theory and Its Discontents," American Economic Review, American Economic Association, vol. 64(2), pages 320-322, May.
    7. Meir Kohn, 2004. "Value and Exchange," Cato Journal, Cato Journal, Cato Institute, vol. 24(3), pages 303-339, Fall.
    8. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    9. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    10. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    11. Paul A. Samuelson, 1956. "Social Indifference Curves," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 1-22.
    12. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    13. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    14. Bryan Caplan, 1999. "The Austrian Search for Realistic Foundations," Southern Economic Journal, John Wiley & Sons, vol. 65(4), pages 823-838, April.
    15. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    16. Hicks, J. R., 1975. "Value and Capital: An Inquiry into some Fundamental Principles of Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198282693.
    17. Randall Holcombe, 2008. "Why does government produce national defense?," Public Choice, Springer, vol. 137(1), pages 11-19, October.
    18. Francis M. Bator, 1958. "The Anatomy of Market Failure," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 72(3), pages 351-379.
    19. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Constantin Schipor, 2016. "A New Perspective of the Welfare State in the European Context," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 133-136, February.
    2. Elert, Niklas & Henrekson, Magnus, 2016. "Status Quo Institutions and the Benefits of Institutional Deviations," Working Paper Series 1144, Research Institute of Industrial Economics, revised 15 Mar 2017.
    3. Petar Stankov, 2017. "Economic Freedom and Welfare Before and After the Crisis," Springer Books, Springer, number 978-3-319-62497-6, December.

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    More about this item

    Keywords

    Welfare economics; Pareto optimality; Economic growth; Economic progress; B53; D60;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D60 - Microeconomics - - Welfare Economics - - - General

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