Titlebook: Perspective of Welfare Economics; S. K. Nath Textbook 1973Latest edition Macmillan Publishers Limited 1973 economics.Welfare.welfare econo

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https://doi.org/10.1007/978-1-349-01034-9economics; Welfare; welfare economics

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Macmillan Publishers Limited 1973

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Review of Probability and Statistics,Welfare economics is that part of economics where we study the possible effects of various economic policies on the welfare of a society. This definition at once raises a number of questions (as would any definition of welfare economics!). What is welfare? How do we assess a society’s welfare? Who speaks on behalf of the society?

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Review of Probability and Statistics,empirical information, and ethical judgements. The second chapter was broadly concerned with propositions about circumstances which maximise social welfare. A related question which often needs to be answered is: . this economic policy increase social welfare? Or, . that economic policy increase soc

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Review of Probability and Statistics,lfare. A related question which often needs to be answered is: . this economic policy increase social welfare? Or, . that economic policy increase social welfare? If the question is about the future, it is . policy evaluation. If it is about the past, it is . policy evaluation.