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...
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2013/08/08
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Artigo de revista
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112403
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1
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1
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2017/03/01
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Disclosed
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'Economic development as opportunity equalization'
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distribution function
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