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Measuring social welfare: application of social choice theory

journal contribution
posted on 2003-03-01, 00:00 authored by Matthew ClarkeMatthew Clarke, S Islam
This paper questions conventional approaches to measuring social welfare through gross domestic product (GDP). This paper is divided into two parts. The first part adopts a systems approach to development and incorporates this into the theory of social choice. The second part operationalises this approach through the development of a cost-benefit adjusted gross domestic product (CBAGDP) social welfare function, which overcomes certain limitations of this traditional measure of development. The CBAGDP is then used to estimate welfare in Thailand. This approach is justified because of its normative values and its plausible results.

History

Journal

Journal of socio-economics

Volume

32

Issue

1

Pagination

1 - 15

Publisher

Elsevier BV, North-Holland

Location

Netherlands

ISSN

1053-5357

eISSN

1879-1239

Language

eng

Notes

Available online 28 February 2003

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

Elsevier Science Inc. 2003

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