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The Pigou–Dalton principle (PDP) is a principle in welfare economics, particularly in cardinal welfarism. Named after Arthur Cecil Pigou and Hugh Dalton, it is a condition on social welfare functions. It says that, all other things being equal, a social welfare function should prefer allocations that are more equitable. In other words, a ...
Two of the world's top economic officials expressed concern about the impact of new U.S. tariffs Trump said he would impose, warning about the potential economic harm of trade wars. “We have seen this movie before, in the 1930s,” World Trade Organization Director-General Ngozi Okonjo-Iweala said.
Arthur Cecil Pigou (/ ˈ p iː ɡ uː /; 18 November 1877 – 7 March 1959) was an English economist.As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chairs of economics around the world.
From an economic aspect, congestion is a negative externality, for drivers can affect other drivers' costs of travel, such as costs of time, miles, or gasoline. [28] Therefore, in 1920 A. C. Pigou published the first edition of The Economics of Welfare and tried to solve the congestion problem.
Watch again as Donald Trump addressed the World Economic Forum in Davos on Thursday, 23 January, days after he was inaugurated as the 47th president of the United States. Delivered via video link ...
Public interest theory is a part of welfare economics. It emphasizes that regulation should maximize social welfare and that regulation should follow a cost/benefit analysis to determine whether the increased social welfare outweighs the regulatory cost. The following costs can be distinguished: [citation needed] Formulation and implementation ...
Collectively, undocumented migrants are a potent economic force. New research by the Institute on Taxation and Economic Policy finds that undocumented migrants paid $96.7 billion in federal, state ...
Trump keeps saying he has all the leverage in these trade disputes, presumably because he can dole out “farmer’s welfare,” as some farm-state legislators derided the new Agriculture program ...