Abstract
This chapter carries forward the work of Chap. 4, by discussing the (as it happens, very restricted) role of distributional questions in Welfare Economics. Drawing on the fine expository work of Hal Varian, this chapter reviews the meaning and limits of the so-called First Theorem of Welfare Economics and highlights the dominance of efficiency considerations and the relative insignificance of distributional concerns in the analytical structure of Welfare Economics.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
