On Economic Inequality
In this classic text, first published in 1973, Amartya Sen relates the theory of welfare economics to the study of economic inequality. He presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality. In his masterful analysis, Sen assesses various approaches to measuring inequality and delineates the causes and effects of economic disparities. Containing the four lectures from the original edition as well as a new introduction, this timeless study is essential reading for economists, philosophers, and social scientists.
In a substantial new annexe, Amartya Sen, jointly with James Foster, critically surveys the literature that followed the publication of this book, and also evaluates the main analytical issues in the appraisal of economic inequality and poverty.
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aggregate alternative analysis Anand approach assumption Atkinson Balestrino between-group Blackorby capability capability approach coefficient of variation concave function concept decomposability defined deprivation Diagram discussed distributional judgements Donaldson economic inequality egalitarian entropy measure example Foster framework Gini coefficient given group welfare function head-count income distribution income levels individual utilities individual welfare inequality evaluation inequality measures interpersonal comparisons intersection quasi-ordering invariance issues literature Lorenz curve Lorenz dominance mean income measure of inequality measure of poverty needs normative measures ordinal overall Pareto optimality partial ordering person Pigou-Dalton poor population possible poverty line poverty measures poverty orderings preference problem quasi-concave relation relative inequality relevant require result S-concavity scale invariance Shorrocks social choice social welfare function stochastic dominance strict strictly concave subgroup consistency symmetry Theorem theory tion total income transfer sensitivity utilitarianism utility function variance vector Weak Equity Axiom weights welfare economics welfare levels