ppt课件-the triumphof pareto( does equity matter)（triumphof帕累托(股权)）.pptVIP

The Triumph of Pareto(Does Equity Matter?) Gary Flomenhoft VT Law School Class 4 Growth Factors ? Theological belief in growth ? Biotic potential ? Fixation on GDP ? Bank interest ? Discounting ? Interest charged on money creation ? To provide jobs for labor displaced by productivity improvements ? Welfare economics is defined by consumption ? Profit motive ? Materialism ? Pareto optimality Pillars of Neo-classical welfare economics (Erickson/Gowdy) 1. Homo-economicus-utility maximization. crumbling 2. Perfect competition (independent actions of firms, no market power, constant returns