On the Geometry of Welfare Economics

Abstract

I. The Bowley-Edgeworth box diagram can be used to describe an exchange but not a production equilibrium, 426. — II. A modified box diagram that allows a complete and explicit treatment of the welfare implications of changes in production, 429. — III. Relation of modified box diagram to some recent work in welfare economics, 433. — IV. Application of modified box diagram to analysis of certain propositions in the theory of international trade, 439.