Economic Development As Opportunity Equalization

Economic development should be conceived of as the degree to which an economy has implemented an efficient and just distribution of economic resources. The ubiquitous measure of GDP per capita reflects a utilitarian conception of justice, where ind...

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Main Author:	Roemer, John E.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ABSTINENCE AGRICULTURE AVERAGE INCOME AVERAGE INCOME LEVEL CAPACITY BUILDING CITIZENS CONFLICT DATA SET DATA SETS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNTED VALUE DISPOSABLE INCOME DISTRIBUTION FUNCTION DISTRIBUTION FUNCTIONS ECONOMIC DEVELOPMENT ECONOMIC INEQUALITY ECONOMIC POLICY ECONOMIC RESOURCES ECONOMIC THEORY EQUAL OPPORTUNITY EQUALITY OF OPPORTUNITY EXCHANGE RATES FREE WILL GDP GDP PER CAPITA HORIZONTAL DISTANCE HOUSEHOLD HEAD HOUSEHOLD INCOME HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DEVELOPMENT INDEX HUMAN WELFARE INCOME INCOME DATA INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INEFFICIENCY INEQUALITY MEASURE INEQUALITY MEASURES LEVEL OF DEVELOPMENT LEVEL OF EDUCATION LIFE EXPECTANCY LOW INCOMES MEASURING INEQUALITY MOTHER NATIONAL INCOME NET INCOME NUMBER OF CHILDREN OUTPUT PER CAPITA PARETO EFFICIENCY PERSONAL INCOME POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL SCIENCE POOR POOR COUNTRY POVERTY REDUCTION PROGRESS PUBLIC AFFAIRS PUBLIC GOODS RACIAL DISCRIMINATION REDISTRIBUTIVE TAXATION RESPECT RURAL SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL CIRCUMSTANCES SOCIAL SPENDING SOCIAL WELFARE TAX REVENUES TAXATION TERTIARY EDUCATION TOTAL OUTPUT TRANSFER PAYMENTS UTILITY FUNCTION WAGES WEALTH WOMAN
Online Access:	http://documents.worldbank.org/curated/en/2013/07/18006010/economic-development-opportunity-equalization http://hdl.handle.net/10986/15888

id	okr-10986-15888
recordtype	oai_dc
spelling	okr-10986-158882021-04-23T14:03:26Z Economic Development As Opportunity Equalization Roemer, John E. ABSTINENCE AGRICULTURE AVERAGE INCOME AVERAGE INCOME LEVEL CAPACITY BUILDING CITIZENS CONFLICT DATA SET DATA SETS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNTED VALUE DISPOSABLE INCOME DISTRIBUTION FUNCTION DISTRIBUTION FUNCTIONS ECONOMIC DEVELOPMENT ECONOMIC INEQUALITY ECONOMIC POLICY ECONOMIC RESOURCES ECONOMIC THEORY EQUAL OPPORTUNITY EQUALITY OF OPPORTUNITY EXCHANGE RATES FREE WILL GDP GDP PER CAPITA HORIZONTAL DISTANCE HOUSEHOLD HEAD HOUSEHOLD INCOME HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DEVELOPMENT INDEX HUMAN WELFARE INCOME INCOME DATA INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INEFFICIENCY INEQUALITY MEASURE INEQUALITY MEASURES LEVEL OF DEVELOPMENT LEVEL OF EDUCATION LIFE EXPECTANCY LOW INCOMES MEASURING INEQUALITY MOTHER NATIONAL INCOME NET INCOME NUMBER OF CHILDREN OUTPUT PER CAPITA PARETO EFFICIENCY PERSONAL INCOME POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL SCIENCE POOR POOR COUNTRY POVERTY REDUCTION PROGRESS PUBLIC AFFAIRS PUBLIC GOODS RACIAL DISCRIMINATION REDISTRIBUTIVE TAXATION RESPECT RURAL SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL CIRCUMSTANCES SOCIAL SPENDING SOCIAL WELFARE TAX REVENUES TAXATION TERTIARY EDUCATION TOTAL OUTPUT TRANSFER PAYMENTS UTILITY FUNCTION WAGES WEALTH WOMAN Economic development should be conceived of as the degree to which an economy has implemented an efficient and just distribution of economic resources. The ubiquitous measure of GDP per capita reflects a utilitarian conception of justice, where individual utility is defined as personal income, and social welfare is the average of utilities in a population. A more attractive conception of justice is opportunity-equalization. Here, a two-dimensional measure of economic development is proposed, based upon viewing individuals incomes as a consequence of circumstances, effort, and policy. The first dimension is the average income level of those in the society with the most disadvantaged circumstances, and the second dimension is the degree to which total income inequality is due to differential effort, as opposed to differential circumstances. This pair of numbers is computed for a set of 22 European countries. No country dominates all others on both dimensions. The two-dimensional measure induces a partial ordering of countries with respect to development. 2013-09-26T19:57:21Z 2013-09-26T19:57:21Z 2013-07 http://documents.worldbank.org/curated/en/2013/07/18006010/economic-development-opportunity-equalization http://hdl.handle.net/10986/15888 English en_US Policy Research Working Paper;No. 6530 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Europe and Central Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ABSTINENCE AGRICULTURE AVERAGE INCOME AVERAGE INCOME LEVEL CAPACITY BUILDING CITIZENS CONFLICT DATA SET DATA SETS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNTED VALUE DISPOSABLE INCOME DISTRIBUTION FUNCTION DISTRIBUTION FUNCTIONS ECONOMIC DEVELOPMENT ECONOMIC INEQUALITY ECONOMIC POLICY ECONOMIC RESOURCES ECONOMIC THEORY EQUAL OPPORTUNITY EQUALITY OF OPPORTUNITY EXCHANGE RATES FREE WILL GDP GDP PER CAPITA HORIZONTAL DISTANCE HOUSEHOLD HEAD HOUSEHOLD INCOME HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DEVELOPMENT INDEX HUMAN WELFARE INCOME INCOME DATA INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INEFFICIENCY INEQUALITY MEASURE INEQUALITY MEASURES LEVEL OF DEVELOPMENT LEVEL OF EDUCATION LIFE EXPECTANCY LOW INCOMES MEASURING INEQUALITY MOTHER NATIONAL INCOME NET INCOME NUMBER OF CHILDREN OUTPUT PER CAPITA PARETO EFFICIENCY PERSONAL INCOME POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL SCIENCE POOR POOR COUNTRY POVERTY REDUCTION PROGRESS PUBLIC AFFAIRS PUBLIC GOODS RACIAL DISCRIMINATION REDISTRIBUTIVE TAXATION RESPECT RURAL SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL CIRCUMSTANCES SOCIAL SPENDING SOCIAL WELFARE TAX REVENUES TAXATION TERTIARY EDUCATION TOTAL OUTPUT TRANSFER PAYMENTS UTILITY FUNCTION WAGES WEALTH WOMAN
spellingShingle	ABSTINENCE AGRICULTURE AVERAGE INCOME AVERAGE INCOME LEVEL CAPACITY BUILDING CITIZENS CONFLICT DATA SET DATA SETS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DISCOUNTED VALUE DISPOSABLE INCOME DISTRIBUTION FUNCTION DISTRIBUTION FUNCTIONS ECONOMIC DEVELOPMENT ECONOMIC INEQUALITY ECONOMIC POLICY ECONOMIC RESOURCES ECONOMIC THEORY EQUAL OPPORTUNITY EQUALITY OF OPPORTUNITY EXCHANGE RATES FREE WILL GDP GDP PER CAPITA HORIZONTAL DISTANCE HOUSEHOLD HEAD HOUSEHOLD INCOME HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DEVELOPMENT INDEX HUMAN WELFARE INCOME INCOME DATA INCOME DISTRIBUTION INCOME INEQUALITY INCOMES INEFFICIENCY INEQUALITY MEASURE INEQUALITY MEASURES LEVEL OF DEVELOPMENT LEVEL OF EDUCATION LIFE EXPECTANCY LOW INCOMES MEASURING INEQUALITY MOTHER NATIONAL INCOME NET INCOME NUMBER OF CHILDREN OUTPUT PER CAPITA PARETO EFFICIENCY PERSONAL INCOME POLICY DISCUSSIONS POLICY MAKERS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL SCIENCE POOR POOR COUNTRY POVERTY REDUCTION PROGRESS PUBLIC AFFAIRS PUBLIC GOODS RACIAL DISCRIMINATION REDISTRIBUTIVE TAXATION RESPECT RURAL SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL CIRCUMSTANCES SOCIAL SPENDING SOCIAL WELFARE TAX REVENUES TAXATION TERTIARY EDUCATION TOTAL OUTPUT TRANSFER PAYMENTS UTILITY FUNCTION WAGES WEALTH WOMAN Roemer, John E. Economic Development As Opportunity Equalization
geographic_facet	Europe and Central Asia
relation	Policy Research Working Paper;No. 6530
description	Economic development should be conceived of as the degree to which an economy has implemented an efficient and just distribution of economic resources. The ubiquitous measure of GDP per capita reflects a utilitarian conception of justice, where individual utility is defined as personal income, and social welfare is the average of utilities in a population. A more attractive conception of justice is opportunity-equalization. Here, a two-dimensional measure of economic development is proposed, based upon viewing individuals incomes as a consequence of circumstances, effort, and policy. The first dimension is the average income level of those in the society with the most disadvantaged circumstances, and the second dimension is the degree to which total income inequality is due to differential effort, as opposed to differential circumstances. This pair of numbers is computed for a set of 22 European countries. No country dominates all others on both dimensions. The two-dimensional measure induces a partial ordering of countries with respect to development.
format	Publications & Research :: Policy Research Working Paper
author	Roemer, John E.
author_facet	Roemer, John E.
author_sort	Roemer, John E.
title	Economic Development As Opportunity Equalization
title_short	Economic Development As Opportunity Equalization
title_full	Economic Development As Opportunity Equalization
title_fullStr	Economic Development As Opportunity Equalization
title_full_unstemmed	Economic Development As Opportunity Equalization
title_sort	economic development as opportunity equalization
publisher	World Bank, Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2013/07/18006010/economic-development-opportunity-equalization http://hdl.handle.net/10986/15888
_version_	1764431871258656768

Economic Development As Opportunity Equalization

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