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measure of economic welfare (D6)<br />GROSS NATIONAL PRODUCT adjusted by the subtraction of 'bads' (which include pollution and services such as law and order) and the addition of 'goods' (which include household activities such as do-it-yourself (DIY) work) which are not conventionally measured in NATIONAL INCOME accounting. Nordhaus and TOBIN introduced the term.
<strong>CBO</strong> – Congressional Budget Office.
is then expanded to take into account mergers and acquisitions. It is essentially an optimistic account that regards large DISECON OMIES OF SCALE as unlikely.<br /><em>See also:</em> managerial models of the firm <br /><em>Reference</em><br />Marris, R. (1964) The Economic Theory of Managerial Capitalism, London: Macmillan.<br /> Penrose, E.T. (1959) The Theory of the Growth of the Firm, Oxford: Basil Blackwell.
Rawlsian justice (D3)<br />1 A revival of social contract theory with general application to basic social and political institutions.<br /> 2 Anti-meritocratic EGALITARIANISM.<br /> 3 A non-utilitarian approach to justice.
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