TAILIEUCHUNG - Lecture Public economics (5th edition) - Chapter 5: Equity and social welfare

This chapter distinguish between the Pareto and Bergson criteria for a welfare improvement, discuss Nozick’s entitlement theory and its relevance to the recent history of South Africa, explain how a redistribution of income can be justified in terms of the theory of externalities, distinguish between the cardinal and ordinal social welfare functions, discuss the efficiency implications of policies aimed at redistributing income from rich to poor people. | OXJORD UNIVERSITY PRESS SOUTHERN AFRICA Public Economics Chapter 5 Equity and social welfare Oxford University Press Southern Africa Pty Ltd 2011 Learning outcomes Distinguish between the Pareto and Bergson criteria for a welfare improvement Discuss Nozick s entitlement theory and its relevance to the recent history of South Africa Explain how a redistribution of income can be justified in terms of the theory of externalities Distinguish between the cardinal and ordinal social welfare functions Discuss the efficiency implications of policies aimed at redistributing income from rich to poor people. OXFORD UNIVERSITY PRESS SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd 2011 Potential top-level equilibria OXFORD UNIVERSITY PRESS SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd .

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• Public economics
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• Nozick’s entitlement theory
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