Social planner
In welfare economics, a social planner is a decision-maker who attempts to achieve the best result for all parties involved. In neo-classical welfare economics, this means the maximization of a social welfare function. In modern welfare economics, there is a greater emphasis on Pareto optimality, in which no one's economic status can be improved without worsening someone else's. Pareto-optimal solutions are not unique, and according to the Second Fundamental Theorem of Welfare Economics, a social planner can achieve any Pareto-optimal outcome by an appropriate redistribution of wealth by means of competitive market.
Social planner - Wikipedia Jump to content From Wikipedia, the free encyclopedia Decision-maker who attempts to maximize social welfare This article needs more citations . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed . Find sources: "Social planner" – news · newspapers · books · scholar · JSTOR ( December 2009 ) ( Learn how and when to remove this message ) In welfare economics , a social planner is a hypothetical decision-maker who attempts to maximize some notion of social welfare . The planner is a fictional enti
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