IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/27800.html
   My bibliography  Save this paper

An Unbiased Pareto Improvement strategy for poverty alleviation

Author

Listed:
  • Zaman, Md Monowaruz

Abstract

There are historical and institutional reasons behind our economic problems like poverty and environmental damage but it is not acceptable if they persist in years to come. The strategic use of information by individual economic agents establishes a biasing effect on our economy. In case of poverty, economic efforts of poor people are continuously undervalued and therefore, true welfare across an economy cannot be achieved without protecting the poor people for their immediate economic needs and simultaneously counteracting the biasing forces. This article describes an Unbiased Pareto Improvement (UPI) strategy to be implemented across an economy and eventually across the world to solve poverty problems. This strategy describes making business opportunities involving poor people as well as helping government to set up pro-poor economic policies and infrastructures. A new indicator RICR (Real Income to Contribution Ratio) is introduced to measure its performance.

Suggested Citation

  • Zaman, Md Monowaruz, 2010. "An Unbiased Pareto Improvement strategy for poverty alleviation," MPRA Paper 27800, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:27800
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/27800/1/MPRA_paper_27800.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Joseph E. Stiglitz, 1974. "Incentives and Risk Sharing in Sharecropping," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(2), pages 219-255.
    2. Geoffrey M. Hodgson, 2007. "Meanings of methodological individualism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(2), pages 211-226.
    3. Ng, Yew-Kwang, 1984. "Quasi-Pareto Social Improvements," American Economic Review, American Economic Association, vol. 74(5), pages 1033-1050, December.
    4. G. Hodgson, 2007. "What Are Institutions?," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 8.
    5. Joseph E. Stiglitz, 2000. "The Contributions of the Economics of Information to Twentieth Century Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(4), pages 1441-1478.
    6. G. Hodgson., 2007. "What Are Institutions?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    7. Zaman, Md Monowaruz, 2008. "Welfare dynamics based on a new concept of inefficient equilibrium," MPRA Paper 11303, University Library of Munich, Germany.
    8. Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
    9. Joseph E. Stiglitz, 1991. "The Invisible Hand and Modern Welfare Economics," NBER Working Papers 3641, National Bureau of Economic Research, Inc.
    10. Zaman, Md Monowaruz, 2007. "The theoretical aspect of Muhammad Yunus’s dream-'putting poverty in museums'," MPRA Paper 1306, University Library of Munich, Germany, revised 02 Jan 2007.
    11. Bruce C. Greenwald & Joseph E. Stiglitz, 1986. "Externalities in Economies with Imperfect Information and Incomplete Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(2), pages 229-264.
    12. Paul Krugman, 1992. "A Dynamic Spatial Model," NBER Working Papers 4219, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zaman, Md Monowaruz, 2008. "Welfare dynamics based on a new concept of inefficient equilibrium," MPRA Paper 11303, University Library of Munich, Germany.
    2. Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
    3. Gagliardi, Francesca, 2008. "Institutions and economic change: A critical survey of the new institutional approaches and empirical evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 416-443, February.
    4. Eduard Hartwich & Alexander Rieger & Johannes Sedlmeir & Dominik Jurek & Gilbert Fridgen, 2023. "Machine economies," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-13, December.
    5. Masahiko Aoki, 2013. "Institutions as cognitive media between strategic interactions and individual beliefs," Chapters, in: Comparative Institutional Analysis, chapter 17, pages 298-312, Edward Elgar Publishing.
    6. Roumasset, James A., 2006. "The Economics of Agricultural Development: What Have We Learned?," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25598, International Association of Agricultural Economists.
    7. Thomas Barnebeck Andersen & Finn Tarp, 2003. "Financial liberalization, financial development and economic growth in LDCs," Journal of International Development, John Wiley & Sons, Ltd., vol. 15(2), pages 189-209.
    8. Lee-Peuker, Mi-Yong & Klauer, Bernd, 2010. "Bringing about institutional change in public brownfield management: The case of Saxony-Anhalt (Germany)," UFZ Discussion Papers 5/2010, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    9. Engel, Christoph & Weber, Elke U., 2007. "The impact of institutions on the decision how to decide," Journal of Institutional Economics, Cambridge University Press, vol. 3(3), pages 323-349, December.
    10. Nicolas Brisset, 2016. "Institutions as Emergent Phenomena: Redefining Downward Causation," Working Papers halshs-01425669, HAL.
    11. Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008. "Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005)," European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
    12. Nikolay Nenovsky, 2009. "On Money as an Institution," ICER Working Papers 12-2009, ICER - International Centre for Economic Research.
    13. James Roumasset, 2004. "Rural Institutions, Agricultural Development, and Pro-Poor Economic Growth," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 1(1), pages 61-82, June.
    14. Joseph E. Stiglitz, 2011. "Rethinking Macroeconomics: What Failed, And How To Repair It," Journal of the European Economic Association, European Economic Association, vol. 9(4), pages 591-645, August.
    15. Johannes Urpelainen, 2011. "The origins of social institutions," Journal of Theoretical Politics, , vol. 23(2), pages 215-240, April.
    16. Gazi I Kara & S Mehmet Ozsoy & Itay Goldstein, 2020. "Bank Regulation under Fire Sale Externalities," The Review of Financial Studies, Society for Financial Studies, vol. 33(6), pages 2554-2584.
    17. Gérard Charreaux, 2008. "La recherche en finance d’entreprise:quel positionnement méthodologique ?," Revue Finance Contrôle Stratégie, revues.org, vol. 11(Special), pages 237-290, June.
    18. Greif, Avner & Tadelis, Steven, 2010. "A theory of moral persistence: Crypto-morality and political legitimacy," Journal of Comparative Economics, Elsevier, vol. 38(3), pages 229-244, September.
    19. De Rosa, Marcello & Adinolfi, Felice & Capitanio, Fabian & Paci, Federica & Pantini, Denis, 2015. "The role of culinary programs in the emergency of "distinct" consumers," 143rd Joint EAAE/AAEA Seminar, March 25-27, 2015, Naples, Italy 202734, European Association of Agricultural Economists.
    20. Jeremy Heald & Erick Trevi~no Aguilar, 2020. "Does Subjective Well-being Contribute to Our Understanding of Mexican Well-being?," Papers 2004.11420, arXiv.org.

    More about this item

    Keywords

    Bangladesh; Economics of information; micro credit; micro finance; Pareto improvement; poverty; social business; real income; Yunus;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • P41 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • P44 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:27800. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.