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A historical introduction to normative economics

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  • Serge-Christophe Kolm

    (Maison des Sciences de l'Homme, 54, Bd. Raspail, F-75006 Paris, France)

Abstract

The central way in which people judge the economy is process liberalism, whose rational form, however, implies specific redistributions and roles for the public sector. Other principles also belong to procedural justice, and others refer to happiness. Among the latter, the utilitarian ethos and form have a limited scope of relevance. This has led to the consideration of more general social maximands. However, seeing a priori the general social optimum as a maximum imposes non-needed requirements, sometimes opposes rationality and equity, and always demands justification. In particular, this maximizing form cannot be justified as representing an individual's judgment. But, at any rate, the general optimum is defined otherwise.

Suggested Citation

  • Serge-Christophe Kolm, 2000. "A historical introduction to normative economics," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 17(4), pages 707-738.
    • Handle: RePEc:spr:sochwe:v:17:y:2000:i:4:p:707-738
    Note: Received: 2 March 1999/Accepted: 6 October 1999
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    Cited by:

    1. Gert Cornelissen & Siegfried Dewitte & Luk Warlop, "undated". "Social Value Orientation as a Moral Intuition: Decision-Making in the Dictator Game," Working Papers 322, Barcelona School of Economics.
    2. Theodore C. Bergstrom, 2006. "Benefit-Cost in a Benevolent Society," American Economic Review, American Economic Association, vol. 96(1), pages 339-351, March.
    3. Dominik Aaken & Andreas Ostermaier & Arnold Picot, 2014. "Privacy and Freedom: An Economic (Re-)Evaluation of Privacy," Kyklos, Wiley Blackwell, vol. 67(2), pages 133-155, May.

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