Welfare Economics and Robinson Crusoe the Producer

Posted: 29 Aug 2000

See all articles by Ian Steedman

Ian Steedman

Manchester Metropolitan University - Department of Economics

Abstract

The welfare of almost all employed people is significantly affected by how they spend their working hours?and not just by how long they work and what they can purchase with their earnings. Yet this brute fact is all but ignored in welfare economics! It is shown here, in a very simple way, how sharply the familiar results of welfare theory are changed once this glaring omission is rectified.

JEL Classification: D60

Suggested Citation

Steedman, Ian, Welfare Economics and Robinson Crusoe the Producer. Available at SSRN: https://ssrn.com/abstract=231521

Ian Steedman (Contact Author)

Manchester Metropolitan University - Department of Economics ( email )

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