I think a free market combined with benefits for poor people could go a long way in mitigating the “money-weighted utility” problem. It wouldn’t be neat, but we’re trying to optimize a complex thing. How much happiness should be given for free, and how much should be used as a carrot to make people create more happiness? That’s a question about human nature and there might not be any mathematically clean way to answer it.
I think a free market combined with benefits for poor people could go a long way in mitigating the “money-weighted utility” problem. It wouldn’t be neat, but we’re trying to optimize a complex thing. How much happiness should be given for free, and how much should be used as a carrot to make people create more happiness? That’s a question about human nature and there might not be any mathematically clean way to answer it.