A case for happiness, cardinalism, and interpersonal comparability

Article Abstract:

Changes are needed with regards to economists negative attitude towards the concept of happiness and interpersonal comparison. The concept of happiness needs to be viewed positively since it serves as the ultimate objective of every individual. It also has a more significant effect than money when it comes to the lives of people living in industrialized countries. On the other hand, economists can utilize interpersonal comparison to subjectively assess facts associated with their field of study.

Analysis, Happiness, Social perception

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Comments on T. Eggertsson, "Limits to institutional reforms."

Article Abstract:

The struggle by groups to secure distributed gains from an institutional reform most favorable to them may block the reform itself. This is always true, since every distribution proposal has its counter proposal, and the possibility that no agreement of distribution is reached is high. It is suggested then that the formation of a feasible redistribution process will most likely depend on legislative delegations and restrictions to accepted counterproposals.

Evaluation, Welfare reform, Legislative power, Institutional economics

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Structural reforms underway

Article Abstract:

Structural reforms are needed to restore the financial ability of the east Asian countries affected by the late 1990s currency crisis. The banking sector must be improved, confidence in both government and private industry must be regained and deregulation should be implemented. Reforms are possible because the solid economic foundation that propelled the economic boom of the early 1990s remains intact.

Economic aspects, East Asia, Currency devaluation, Devaluation (Currency), Economic stabilization

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