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Welfare-reducing growth despite individual and government optimization

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Abstract.

In the presence of substantial relative-income effects and environmental disruption effects, economic growth may be welfare-reducing even if each and all individuals are optimizing and eagerly trying to make more money and the government also maximizes the welfare of individuals by the choice of income-tax rate and the ratio devoted to the abatement of environmental disruption. Welfare-reducing growth may be avoided if environmental disruption may be directed taxed at low costs and/or government spending on public goods is not environmentally disruptive.

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Authors and Affiliations

  1. Department of Economics, Monash University, Clayton, Australia 3168 (e-mail: siang.ng@; kwang.ng@buseco.monash.edu.au), , , , , , AU

    Siang Ng & Yew-Kwang Ng

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  1. Siang Ng
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  2. Yew-Kwang Ng
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Received: 2 September 1998/Accepted: 16 February 2000

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Ng, S., Ng, YK. Welfare-reducing growth despite individual and government optimization. Soc Choice Welfare 18, 497–506 (2001). https://doi.org/10.1007/s003550000081

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  • DOI: https://doi.org/10.1007/s003550000081

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