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An Inquiry into Well-Being and Destitution$
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Partha Dasgupta

Print publication date: 1995

Print ISBN-13: 9780198288350

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198288352.001.0001

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Real National Income as a Measure of General Well‐Being

Real National Income as a Measure of General Well‐Being

Chapter:
(p.184) *7 Real National Income as a Measure of General Well‐Being
Source:
An Inquiry into Well-Being and Destitution
Author(s):

Partha Dasgupta (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198288352.003.0009

The main part of this chapter discusses decentralization and central guidance in relation to resource allocation. There are seven sections: (1) competitive mechanisms in the private realm; (2) the existence of competitive equilibrium; (3) competitive markets and efficiency; (4) the implementation of just allocations in the private realm; (5) pluralism and exchange restrictions (exchange control) in the public realm; (6) producer versus consumer taxation; and (7) national income in a pluralist society. An extra and separate section (designated Chapter *7) gives a theoretical presentation on real national income as a measure of general well-being.

Keywords:   allocation, centralization, competition, competitive equilibrium, decentralization, efficiency, exchange control, market competition, national income, pluralism, private sector, public sector, taxation, well-being

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