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Schizzo Welfare Economics

Robert Waldmann I think that a popular approach to welfare economics requires simultaneously holding two contradictory beliefs. 1) Utility is not comparable across individuals so we can only say whether…

Discussing a Quotation

…metric welfare must stay the same, so it can’t be that everyone is better off. This is true under the assumptions of the first welfare theorem. One key assumption is…

Record Severe Poverty II

…I know, no politician dares discuss reversing welfare reform. I think the still widely accepted conclusion that welfare reform was a great success is based on two gross and obvious…