William Bryant
Abstract
Textbooks regularly interpret the second fundamental theorem of welfare economics by claiming it asserts that any desired Pareto optimum can be achieved by market prices.
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Textbooks regularly interpret the second fundamental theorem of welfare economics by claiming it asserts that any desired Pareto optimum can be achieved by market prices.
Key concepts: Economics education, Economics, Positive economics, Economic welfare, Welfare, Public economics, Neoclassical economics, Mathematical economics