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A Comment on "Economic Inefficiency: A Failure of Economists"
Cecil E. Bohanon
The Journal of Economic Education
Vol. 21, No. 4 (Autumn, 1990), pp. 427-431
Published by: Taylor & Francis, Ltd.
Stable URL: http://www.jstor.org/stable/1182545
Page Count: 5
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This comment argues that the Staten-Umbeck critique of welfare economics, published earlier in this journal, is useful in that it challenges economists to carefully specify the assumptions of welfare analysis, but its primary point is only that welfare analysis is not methodologically positive.
The Journal of Economic Education © 1990 Taylor & Francis, Ltd.