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The Second Fundamental Theorem of Welfare Economics: A Pedagogical Note

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  • Sergio Parrinello

Abstract

The author extends the criticism that W. Bryant (1994) levelled against the usual treatment given to the Second Fundamental Theorem of Welfare Economics in many microeconomics textbooks and economic journal literature. He argues that the omission of basic caveats makes the usual interpretation misleading and an obstacle to better economic education.

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  • Sergio Parrinello, 1998. "The Second Fundamental Theorem of Welfare Economics: A Pedagogical Note," Economia politica, Società editrice il Mulino, issue 2, pages 209-218.
    • Handle: RePEc:mul:jb33yl:doi:10.1428/1868:y:1998:i:2:p:209-218
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