Pareto Optimality and Distributive Justice in...

Pareto Optimality and Distributive Justice in Indian Economic Growth Trajectory the Saga of Jangareddigudem Revenue Division –A Case Study

Author Name : B. Srinivasa Rao

INTRODUCTION The popular measure of human satisfaction now a days is undoubtedly the GDP for all practical purposes accepted and practiced by all nations and renowned institutions all over the globe. However, the measure of GDP faces toughest competition from the other recent indicators like HDI, GEM, PQLI, Green GDP, GDP per capita etc., but remained in the top slot. Therefore the debate on welfare of any country’s population and even distributive justice for that matter solely depends on the acceleration of the GDP of the society. The postulates of welfare economics like Pigou’s too concludes that the increasing GDP automatically ensures the societal welfare and economic efficiency. But, the ethical and normative economics side of welfare concepts by people like Amartyasen and others somehow doubt and remain cautious in buying the above argument. Many believe that the increasing GDP is not percolating downstream to ensure distributive justice nor ensuring economic efficiency in creating wealth