Little’s Criterion

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Little’s Criterion

According to Prof. I.M.D. Lillie neither the Waldorf Hick’s test nor the Tsiolkovsky’s double test can be taken as a criterion of welfare. He develops a new welfare criterion  which is based on two value premises. First that an individual becomes better of If  he is enable to reach a position higher up on   order of choice. Secondly any  octal change that  makes everybody better off is a good change. In the words of Little his criterion can be stance as follows  A change is economically desirable II it result 10 a  good redistribution of welfare, and in’ a policy of redistributing money   by lump sum transfers could not

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Little’s Criterion