Arbeitspapier

What money can't buy: The relevance of income redistribution for functioning levels

This paper relates Amartya Sen’s capability approach to the literature on equivalence scales. Synthetic indicators of well-being are constructed by adjusting individual incomes for differences in functionings. An exploratory comparative application to Italian and Belgian data illustrates the model while disclosing the apparent relative contributions of monetary and non-monetary factors to changes in the functionings’ level. The results suggest that income as such cannot take us very far in evaluating achievements, on account of the effect of some non-monetary factors. Further, they hint at the inappropriateness of the assumption that any dissimilarity among individuals may be efficiently dealt with by a suitable monetary compensation.

ISBN
9291906301
Sprache
Englisch

Erschienen in
Series: WIDER Research Paper ; No. 2004/41

Klassifikation
Wirtschaft
General Welfare; Well-Being
Measurement and Analysis of Poverty
Thema
well-being
functionings
equivalence scale
equivalent income
Einkommensverteilung
Lebensqualität
Theorie
Belgien
Italien

Ereignis
Geistige Schöpfung
(wer)
Lelli, Sara
Ereignis
Veröffentlichung
(wer)
The United Nations University World Institute for Development Economics Research (UNU-WIDER)
(wo)
Helsinki
(wann)
2004

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Lelli, Sara
  • The United Nations University World Institute for Development Economics Research (UNU-WIDER)

Entstanden

  • 2004

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