Abstract Consider two principles for social evaluation. The first, “laissez-faire”, says that mean-preserving redistribution away from laissez-faire incomes should be regarded as a worsening. This principle captures key aspect of libertarian political philosophy. second, weak Pareto, states an increase in the disposable income each individual improvement. We show combination implies total ought...

The question we ask is: within the set of a three-period-lived OLG economies with a stochastic endowment process, a stochastic dividend process, and sequentially incomplete complete markets, under what set of conditions may a set of government transfers dynamically Pareto dominate the laissez faire equilibrium? We start by characterizing perfect risk sharing and find that it implies a strongly ...

This study provided a comprehensive examination of the full range of transformational, transactional, and laissez-faire leadership. Results (based on 626 correlations from 87 sources) revealed an overall validity of .44 for transformational leadership, and this validity generalized over longitudinal and multisource designs. Contingent reward (.39) and laissez-faire (-.37) leadership had the nex...

A review of economic thought since the sixteenth century reveals two streams of economic discourse, dirigisme and laissez-faire. Starting with the mercantilists, dirigiste approaches to economics embrace the real-world complexity of commodities that often differ greatly in attributes that are growthand rentaugmenting. Most importantly, this means that free trade is likely to be polarising: it c...