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Peasants versus City-DwellersTaxation and the Burden of Economic Development$
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Raaj K. Sah and Joseph E. Stiglitz

Print publication date: 2002

Print ISBN-13: 9780199253579

Published to Oxford Scholarship Online: January 2005

DOI: 10.1093/0199253579.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 August 2019

An Approach to Applied Welfare Economics

An Approach to Applied Welfare Economics

Chapter:
(p.27) 3 An Approach to Applied Welfare Economics
Source:
Peasants versus City-Dwellers
Author(s):

Raaj K. Sah (Contributor Webpage)

Joseph E. Stiglitz (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199253579.003.0003

One of the contributions of this book is to use and develop the principles of modern public finance for the analysis of LDCs (less developed countries). This is done by borrowing from two intellectual traditions: that relating to public finance, and that relating to development economics. This chapter briefly reviews the four major strands in public finance literature that form the background to the study. These are: general-equilibrium analysis; Pigouvian welfare economics and optimal taxation; the New Welfare Economics (which says that interpersonal utility comparisons are not meaningful, so the utilitarian approach to adding up utilities is nonsense, and one allocation can only be said to be better than another when the first was a Pareto-improvement over the second); and the New New Welfare Economics, which borrows from the previous three strands, and seeks to analyse the scope of available tax instruments, and to take into account and explain market imperfections. This last approach is the one mainly used in the book to approach applied welfare economics for LDCs; various aspects of the approach are discussed.

Keywords:   applied welfare economics, development economics, general-equilibrium analysis, less developed countries (LDCs), market imperfections, New New Welfare Economics, New Welfare Economics, optimal taxation, Pigouvian welfare economics, public finance, tax instruments, taxation, welfare economics

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