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" "Those who wish to be inspired by the glory of the British Empire would do well to avoid reading Adam Smith's The Wealth of Nations ... (pg. 164)
Amartya Kumar Sen (born 3 November 1933) is an Indian economist and the winner of the 1998 Nobel Prize for economics.
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The enormous standing of Pareto optimality in welfare economics, as was argued earlier, relates closely to the hallowed position of utilitarianism in traditional welfare economics (before questions were raised about the possibility of interpersonal comparisons of utility). If interpersonal comparisons of utility are dropped, but nevertheless utility is regarded as the only thing of intrinsic value, then Pareto optimality would be the natural surviving criterion, since it carries the utilitarian logic as far forward as possible without actually making any interpersonal comparisons of utility.
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The approach presented in my book The Idea of Justice shares the general Enlightenment interest in relying on reasoning in general and public reasoning in particular, and in this respect there is something very substantially in common between the two alternative disciplines of reasoning that emerged from the intellectual climate of the Enlightenment period, that is, between the Hobbesian and Kantian reasoning (with its successors today, such as the Rawlsian social contract approach) and the reasoning of Smith and Condorcet (with its successors today, such as normative social choice theory).