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Abstract

Vol. 58, No. 2, pp. 97-109 (2007)

“On the Non-Welfaristic and Non-Consequential Foundations of Normative Economics -Or, What is the Connecting Link Between Pigou and Sen via Hicks?-”
Kotaro Suzumura (Institute of Economic Research, Hitotsubashi University)

Hicks, who played a crucial role in creating the “new” welfare economics after Pigou's “old” welfare economics collapsed in front of Robbins' attack, made his “non-welfarist manifesto” public towards the end of 1950s. The first purpose of this paper is to locate Hicks' manifesto in between Pigou and Sen, and clarify the impact thereof to the historical evolution of normative economics. His two unpublished manuscripts will play some role in performing this clarification. The second purpose of this paper is to locate my own research programs, one on the concept of individual libertarian rights and another on the axiomatic characterization of consequentialism and non-consequentialism, within the spectrum of post-Sen normative economics.