Year: 1961
Type: article
Abstract: In light of two implications of urban renewal, it is not at all surprising that this phenomenon provides an excellent area for the application of welfare economics. These implications are: First, that the market mechanism has not functioned properly in urban property; and second, that positive action can improve the situation. The propositions of welfare economics provide some tools for judging public policy measures such as urban renewal. But since these propositions themselves are based upon ethical postulates, it seems desirable that we begin our discussion of urban renewal by stating explicitly what we consider the role of the economist to be in this situation. I
Source: Law and Contemporary Problems
DOI: 10.2307/1190601
Authors: Otto A. Davis, Andrew B. Whinston
Language: English
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1578328669