Publication: Economic Development as Opportunity Equalization
| creativeworkseries.issn | 1564-698X | |
| dc.contributor.author | Roemer, John E. | |
| dc.date.accessioned | 2015-12-29T20:35:16Z | |
| dc.date.available | 2015-12-29T20:35:16Z | |
| dc.date.issued | 2014-05-27 | |
| dc.description.abstract | Economic development should be conceived of as the degree to which an economy has implemented an efficient and just distribution of economic resources. The ubiquitous measure of GDP per capita reflects a utilitarian conception of justice, where individual utility is defined as personal income, and social welfare is the average of utilities in a population. A more attractive conception of justice is opportunity-equalization. Here, a two-dimensional measure of economic development is proposed, based upon viewing individuals’ incomes as a consequence of circumstances, effort, and policy. The first dimension is the average income level of those in the society with the most disadvantaged circumstances, and the second dimension is the degree to which total income inequality is due to differential effort, as opposed to differential circumstances. This pair of numbers is computed for a set of 22 European countries. No country dominates all others on both dimensions. The two-dimensional measure induces a partial ordering of countries with respect to development. | en |
| dc.identifier.citation | World Bank Economic Review | |
| dc.identifier.uri | https://hdl.handle.net/10986/23538 | |
| dc.language.iso | en_US | |
| dc.publisher | Oxford University Press on behalf of the World Bank | |
| dc.relation.ispartofseries | World Bank Economic Review | |
| dc.rights | CC BY-NC-ND 3.0 IGO | |
| dc.rights.holder | World Bank | |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/igo | |
| dc.subject | agriculture | |
| dc.subject | development policy | |
| dc.subject | discounted value | |
| dc.subject | disposable income | |
| dc.subject | Economic Development | |
| dc.subject | economic resources | |
| dc.subject | economic theory | |
| dc.subject | GDP | |
| dc.subject | GDP per capita | |
| dc.subject | income | |
| dc.subject | inefficiency | |
| dc.subject | m2 | |
| dc.subject | Pareto efficiency | |
| dc.subject | redistributive taxation | |
| dc.subject | tax revenues | |
| dc.subject | taxation | |
| dc.subject | total output | |
| dc.subject | utility function | |
| dc.subject | wages | |
| dc.subject | wealth | |
| dc.title | Economic Development as Opportunity Equalization | en |
| dc.type | Journal Article | en |
| dc.type | Article de journal | fr |
| dc.type | ArtÃculo de revista | es |
| dspace.entity.type | Publication | |
| okr.date.disclosure | 2015-11-27 | |
| okr.doctype | Publications & Research::Journal Article | |
| okr.doctype | Publications & Research | |
| okr.identifier.doi | 10.1093/wber/lht023 | |
| okr.journal.nbpages | 189-209 | |
| okr.language.supported | en | |
| okr.peerreview | Academic Peer Review | |
| okr.region.geographical | Europe | |
| okr.topic | Macroeconomics and Economic Growth::Economic Theory & Research | |
| okr.topic | Poverty Reduction::Inequality | |
| okr.topic | Health, Nutrition and Population::Population Policies | |
| okr.topic | Poverty Reduction::Rural Poverty Reduction | |
| okr.topic | Poverty Reduction::Poverty Impact Evaluation | |
| okr.volume | 28(2) | |
| relation.isJournalIssueOfPublication | c18557c1-8971-4efb-a9e1-b3acacd2ea76 | |
| relation.isJournalIssueOfPublication.latestForDiscovery | c18557c1-8971-4efb-a9e1-b3acacd2ea76 | |
| relation.isJournalOfPublication | c41eae2f-cf94-449d-86b7-f062aebe893f | |
| relation.isJournalVolumeOfPublication | e634dfbe-6d7f-459a-95e3-71acdc33f423 |