Microeconomics

Plants produce a diverse array of secondary metabolites, many of which possess antimicrobial activity in their biologically active forms or inactive precursors that are relatively safer than synthetic antibacterial compounds, offering profound therapeutic benefits and more affordable treatment (Trease et al. 1972) [1]. The beneficial medicinal effects typically result from the combinations of such secondary metabolites present in the plant to prevent or cure infectious conditions. One approach might be the testing of plants traditionally used for their antibacterial activities as potential sources for drug development. One of such folklore medicinal herb, Biophytum sensitivum (L) DC. (Oxalidaceae) is a small annual plant, growing throughout in wet lands (mostly plains) of tropical Africa, Asia and India; normally in the shade of trees and shrubs, in grasslands, open thickets, at low and medium altitudes and in the foothills of Himalayas. The parts of the plant has been known to possesses a wide spectrum of medicinal properties namely antiseptic properties, including positive effects in variety of skin infections, bruises, wounds & ulcer, burns & contusions, inflammatory diseases, and diabetes [2,3]. In this present study, the antibacterial potency of herbal creams and gels formulated with methanolic extract of Biophytum sensitivum was evaluated. The preliminary in vitro antibacterial activity of the dry methanolic extracts of dried whole plant of Biophytum sensitivum was determined against four different bacterial strains (Salmonella typhi, Staphylococcus aureus, Escherichia coli and Bacillus subtillis) using the agar well diffusion method to find the zone of inhibition of bacterial growth. Herbal creams and gels were prepared by incorporating the dry methanolic extract of whole plant of Biophytum sensitivum of into emulsifying cream and aqueous washable gel base and evaluated for their in vitro antibacterial efficacy. This study shows that Biophytum sensitivum has high potential as antibacterial agent when formulated as cream and gel for topical use and could therefore explain the successes claimed in the folklore use of the plant in the treatment of common skin conditions.

En el presente se hace una revisión crítica de los teoremas fundamentales del bienestar, referentes de la política pública, esto con el objetivo de mostrar la inoperatividad práctica de la teoría y los
problemas internos no resueltos (parece que la teoría se encuentra en un callejón sin salida). Para ello se hace un análisis de las condiciones y supuestos del equilibrio competitivo-Pareto óptimo, como de su significado e implicaciones en términos de eficiencia y equidad. Se retoma el debate que surge del teorema de la imposibilidad de Arrow respecto a los supuestos sobre las preferencias individuales y la construcción de una función de bienestar social. Finalmente, seexaminan las posiciones críticas sobre la aplicación de los teoremas del bienestar a la realidad; en específico, la teoría del segundo mejor y la visión de una economía dinámica.

Abstract
This paper analyzes the fundamental welfare theorems from a critical point of view as it aims to show the lack of applicability of the theory and some of its unsolved internal problems (it seems that this theory has arrived at a dead end). In the first place, we analyze the conditions
of the competitive model, the assumptions of the Pareto efficiency and their meanings and implications in terms of efficiency and equity. Then, we return to the discussion that arises from Arrow’s impossibility theorem about the assumptions regarding individual preferences and the
construction of a social welfare function. Finally, we examine critical points of view in regard to the application of welfare theorems in reality, specifically the general theory of second best and the view of a dynamic economy.