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Thursday, July 01, 2004

Wealth maximization 

Brad DeLong has a nice exposition on why we shouldn't think that maximizing society's wealth is the same thing as maximizing society's utility (nor should we think the former is easier to calculate in a meaningful way). Question for readers who've studied law and economics: does Posner have a good justification for why judges should care about wealth maximization rather than utility maximization?
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