Let's agree that all dictatorships are equally bad

Authors
Citation
U. Segal, Let's agree that all dictatorships are equally bad, J POLIT EC, 108(3), 2000, pp. 569-589
Citations number
25
Categorie Soggetti
Economics
Journal title
JOURNAL OF POLITICAL ECONOMY
ISSN journal
00223808 → ACNP
Volume
108
Issue
3
Year of publication
2000
Pages
569 - 589
Database
ISI
SICI code
0022-3808(200006)108:3<569:LATADA>2.0.ZU;2-L
Abstract
This paper shows that a minimal degree of consideration for other people's well-being enables society to agree that one social policy is the best. I o ffer axioms that imply that this best policy maximizes a weighted sum of in dividual utilities. The weight of each individual is the inverse of his or her maximal possible utility from social endowments. The suggested policy i s not sensitive to the choice of the von Neumann-Morgenstern utilities. The key axiom is that individuals agree that giving all the endowments always to one person is as bad as giving them to any other person.