Description
Book SynopsisPieter Hennipman, the leading Dutch economist of the post-war period, made many substantial contributions to economic policy, welfare economics and, latterly, the methodology and history of economic thought during a long and distinguished career.
Welfare Economics and the Theory of Economic Policy brings together a key selection of Professor Hennipman's papers - many of which have not been published in English before - which express his profound analysis of the theory of economic policy and his masterful discussion of its definition, character and scope. The pioneering work featured here developed his argument that normative economic statements and economic policies can be analysed scientifically and evaluated with the use of objective criteria.
Prominent among these papers are the contributions to welfare economics and Pieter Hennipman's examination of the transition from the view that welfare was exclusively dependent on production to one which saw it as a subjective phenomenon dependent upon consumption. This volume also includes his rigorous and insightful essays on the history of the theory of welfare economics.
With a thorough introduction by Donald Walker, this comprehensive volume will improve access to Professor Hennipman's outstanding contributions on the nature of the theory of economic policy as well as papers which place welfare theory in relation to other sections of economic theory in a penetrating and sophisticated manner.
Trade Review'This book provides an excellent reference volume by bringing together a collection of this distinguished author's key papers covering analysis of the theory of economic policy and discussion of its definition, character and scope.' -- Aslib Book Guide'. . . I recommend the book especially to the "mainstream" sceptics.'– Yew-Kwang Ng, The Manchester School
Table of ContentsContents: Preface Introduction 1. On the Theory of Economic Policy 2. Pareto Optimality: Value Judgement or Analytical Tool? 3. Welfare Economics: The Hennipman–Mishan Debate 4. The Reasoning of a Great Methodologist: Mark Blaug on the Nature of Paretian Welfare Economics 5. Two Kinds of Interpersonal Utility Comparison 6. Distribution in Paretian Welfare Economics 7. Wicksell and Pareto: Their Relationship in the Theory of Public Finance 8. Some Notes on Pareto Optimality and Wicksellian Unanimity 9. A Tale of Two Schools: Comments on a New View of the Ordinalist Revolution 10. Hicks, Robbins and the Demise of Pigovian Welfare Economics: Rectification and Amplification Index
