Journal Article

Economic Development as Opportunity Equalization

Show simple item record

collection.link.102
https://openknowledge.worldbank.org/handle/10986/2211
collection.name.102
A. World Bank Economic Review
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.date.lastModified
2021-04-23T14:04:15Z
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
http://hdl.handle.net/10986/23538
dc.language.iso
en_US
dc.publisher
Oxford University Press on behalf of the World Bank
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
okr.date.disclosure
2015-11-27
okr.doctype
Publications & Research :: Journal Article
okr.doctype
Publications & Research
okr.googlescholar.linkpresent
yes
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)

Show simple item record



This item appears in the following Collection(s)