Premium
WELFARE CONSIDERATIONS OF NORTH AUSTRALIAN DEVELOPMENT DECISIONS
Author(s) -
Healey Derek T.
Publication year - 1966
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1966.tb00021.x
Subject(s) - welfare , economics , term (time) , public economics , economic welfare , market economy , physics , quantum mechanics
Issue is taken with those who adopt a short‐term economic allocation approach to the question of the development of Northern Australia. It is argued that welfare‐economics criteria are inappropriate when consideration of development is involved and that attention must be paid by economists to immeasurable benefits and to national long‐term goals rather than to the maximisation of immediate utilities.