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Welfare-Reducing Growth And Cost-Benefit Analysis: Essay In Memory Of E.J. Mishan

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  • YEW-KWANG NG

    (Nanyang Technological University, 14 Nanyang Drive, Singapore 637332, Singapore)

Abstract

Mishan’s emphasis on the costs of economic growth half a century ago is becoming more important in this era of environmental concerns. More recently, another possible source of immiserizing growth is the one-child policy (recently relaxed) of China. This resulted in a biased sex-ratio and higher competition to earn incomes (to increase the probability of getting a wife), resulting in positive effects on GDP but negative effects on welfare. The implications of welfare-reducing growth for cost-benefit analysis and the legalization of prostitution are also discussed.

Suggested Citation

  • Yew-Kwang Ng, 2016. "Welfare-Reducing Growth And Cost-Benefit Analysis: Essay In Memory Of E.J. Mishan," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(03), pages 1-9, June.
    • Handle: RePEc:wsi:serxxx:v:61:y:2016:i:03:n:s0217590816400130
    DOI: 10.1142/S0217590816400130
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