Pigou and future generatons: a Cambridge tradition

Article Abstract:

Conservationists are concerned about the way that neoclassical economics appears to neglect new generations. Orthodox economists accept the need to analyse welfare across generations. This issue was tackled by the Cambridge tradition of economists including Pigou in his Economics of Welfare. Pigou argued that future generations should be given the same weight as existing generations. The technical and ethical issues that he dealt with are still relevant and his work can provide us with new insights.

Environmental policy

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Smuggling and welfare in a Ricardo-Viner economy

Article Abstract:

Smuggling is treated as a resource-using activity occurring at legal entry points within a Ricardo-Viner economy. The approach digresses from the usual framework of treating smuggling as an activity that does not use domestic resources. Smuggling improves welfare only if domestic price distortion reduction compensates for the loss in using domestic resources to stem smuggling.

Smuggling

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Development and freedom

Article Abstract:

The positive impact of freedom on human development, as perceived by Amartya Sen, is examined.

United Kingdom, Public affairs, Social aspects, Criticism and interpretation, Human growth, Human development, Liberty, Freedom, Sen, Amartya

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