In this article, first, we show how equity considerations, in the guise of inequality of income, enters into a social welfare function. In this connection the important properties of a social welfare function are also discussed. Second, contrary to the popular belief, we contend that the degree...

Assesses and appraises New Zealand’s economic restructuring between 1984 and 1994. Provides an historical overview of the country’s economic performance and looks at past governmental policies. Examines the impact of the return to power of the Labour Party in 1984 and provides a broad...