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Bergson, Abram, 1914- (B3)<br />US economist educated at Johns Hopkins and Harvard Universities. After wartime experience from 1942 to 1945 as chief of the Russian Economic Subdivision of the US Office of Strategic Services, he returned to academic life and has been a professor at Harvard since 1956. In 1938, he created the new welfare economics by asserting that a social welfare function can be established by attaching weights to each individual's welfare function: this rejected the earlier CARDINAL UTILITY approach. Also, he introduced the distinction between 'efficiency' and 'equity', applying it to an analysis of the individual income effects of economic change. He has applied his welfare analysis to many areas of economics, including MARKET sociALISM and monopoly. Also, he became a leading US authority on the Soviet economy.<br /> <br /><em>Reference</em><br />Bergson, A. (1964) Economics of Soviet Planning, New Haven, CT: Yale University Press. - (1966) Essays in Normative Economics, Cambridge, :MA: Harvard University Press.<br /> - (1982) Welfare Planning and Employment: Selected Essays in Economic Theory, Cambridge, MA: MIT Press.
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<strong>Less than half time (LTH)</strong> – An enrollment status indicating the student is carrying less than a half-time academic workload, as determined by the school. Students who are less than half time are not eligible to borrow FFEL Program loans.
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<strong>Holder</strong> – An eligible lender that owns a FFEL Program loan.
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<strong>NDSL</strong> – National Direct Student Loan, renamed the Federal Perkins Loan Program in 1992. (Note: this is NOT the same program as the William D. Ford Direct Loan Program, or FDLP.)
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