On 11/18/05, Michael Perelman <[EMAIL PROTECTED]> wrote: > One of my students told me that he read that someone disproved the theory of > the 2d best. > Has anybody heard of such a proof? > -- > Michael Perelman
Is the theory of the Second Best a general enough theory that it could be conclusively refuted? I've always run into as a series of ad-hoc rebuttals, comparing trade policy to other rememdies to market inperfections, and showing that in a series of particular cases, trade policy is a "second best" policy. Is it actually a general welfare theorem with general proof or evidence?
