Lecture note Public finance (10th Edition) - Chapter 3: Tools of normative analysis
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In this chapter, the following content will be discussed: Welfare economics is the study of the desirability of different economic states; first fundamental theory of welfare economics: competitive markets result in pareto efficiency; second fundamental theory of welfare economics: society can attain any pareto efficient outcome with reassignment of initial endowments and free trade.
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Lecture note Public finance (10th Edition) - Chapter 3: Tools of normative analysis
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Lecture note Public finance (10th Edition) - Chapter 3: Tools of normative analysis
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