Meaning of "welfare economics" in the English dictionary

PRONUNCIATION OF WELFARE ECONOMICS

welfare economics

GRAMMATICAL CATEGORY OF WELFARE ECONOMICS

Welfare economics is a noun.

A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES WELFARE ECONOMICS MEAN IN ENGLISH?

Welfare economics

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being at the aggregate level. A typical methodology begins with the derivation of a social welfare function, which can then be used to rank economically feasible allocations of resources in terms of the social welfare they entail. Such functions typically include measures of economic efficiency and equity, though more recent attempts to quantify social welfare have included a broader range of measures including economic freedom. The field of welfare economics is associated with two fundamental theorems. The first states that given certain assumptions, competitive markets produce efficient outcomes; it captures the logic of Adam Smith's invisible hand. The second states that given further restrictions, any Pareto efficient outcome can be supported as a competitive market equilibrium. Thus a social planner could use a social welfare function to pick the most equitable efficient outcome, then use lump sum transfers followed by competitive trade to bring it about.

Definition of welfare economics in the English dictionary

The definition of welfare economics in the dictionary is the aspects of economic theory concerned with the welfare of society and priorities to be observed in the allocation of resources.

TRANSLATION OF WELFARE ECONOMICS

Find out the translation of welfare economics to 25 languages with our English multilingual translator.

The translations of welfare economics from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «welfare economics» in English.

• Translator English - Chinese: 福利经济学
• Translator English - Spanish: economía del bienestar
• English: welfare economics
• Translator English - Hindi: कल्याणकारी अर्थशास्त्र
• Translator English - Arabic: اقتصاد الرفاه
• Translator English - Russian: экономика благосостояния
• Translator English - Portuguese: economia do bem-estar
• Translator English - Bengali: কল্যাণ অর্থনীতি
• Translator English - French: bien-être économique
• Translator English - Malay: Ekonomi kebajikan
• Translator English - German: Wohlfahrtsökonomie
• Translator English - Japanese: 厚生経済学
• Translator English - Korean: 복지 경제
• Translator English - Javanese: Ekonomi welfare
• Translator English - Vietnamese: phúc lợi kinh tế
• Translator English - Tamil: நலன்புரி பொருளாதாரம்
• Translator English - Marathi: कल्याणकारी अर्थशास्त्र
• Translator English - Turkish: Refah ekonomisi
• Translator English - Italian: economia del benessere
• Translator English - Polish: ekonomia dobrobytu
• Translator English - Ukrainian: економіка добробуту
• Translator English - Romanian: economie bunăstare
• Translator English - Greek: οικονομία της ευημερίας
• Translator English - Afrikaans: welvaartsekonomie
• Translator English - Swedish: välfärdsekonomi
• Translator English - Norwegian: velferdsøkonomi

10 ENGLISH BOOKS RELATING TO «WELFARE ECONOMICS»

Discover the use of welfare economics in the following bibliographical selection. Books relating to welfare economics and brief extracts from same to provide context of its use in English literature.

Welfare Economics

They go on to evaluate the theory of social welfare functions, paying particular attention to recent developments. The second part of the book considers the principles of applied welfare economics.

R. F. Boadway, Bruce Niel, 1984

An Introduction to Modern Welfare Economics

This book in welfare economics covers concepts such as Pareto optimality in a market economy, the compensation criterion and the social welfare function.

Per-Olov Johansson, 1991

Welfare Economics

This is the first of a series of books devoted to economic analysis relating to problems of the Indian economy.

Bhaskar Dutta, 1998

A Critique of Welfare Economics

The book is reissued at the same time as "Ethics, Economics, and Politics" - which explores the overlap between the three disciplines and, in part, displays Little's thinking on establishing rules for government efforts to improve economic ...

I. M. D. Little, 2002

Welfare Economics and Social Choice Theory

This book aims to make value judgments about economic and political mechanisms.

Allan M. Feldman, Roberto Serrano, 2006

The Economics of Welfare

In The Economics of Welfare, originally published in 1920, Pigou reconceptualized economics as a science of economic welfare, in the course of which he developed the first systematic theory of market failures.

A.C. Pigou, 2013

Welfare Economics

Other classifying terms or problems in welfare economics include externalities, equity, justice, inequality, and altruism. This book presents the latest research in the field from around the world.

Paul E. Weston, Robert N. Townsend, 2009

Efficiency and Equity in Welfare Economics

This book presents a model which aims to maximize a symmetrical welfare function under certain constraints which consider both efficiency and equity, i.e. taxes and subsidies, implemented by a public authority.

PierCarlo Nicola, 2012

Population Issues in Social Choice Theory, Welfare ...

Exploring how different ideas of the common good may be compared, contrasted and ranked.

Charles Blackorby, Walter Bossert, David J. Donaldson, 2005

Applied welfare economics

This indispensable book is designed to provide students and scholars with a convenient single source of the essential foundations in applied welfare economics.

Richard E. Just, Darrell L. Hueth, Andrew Schmitz, 2008

3 NEWS ITEMS WHICH INCLUDE THE TERM «WELFARE ECONOMICS»

Find out what the national and international press are talking about and how the term welfare economics is used in the context of the following news items.

Welfare economics: What works best, the carrot or the stick?

By Andy Verity BBC economics correspondent ... Osborne has made it clear how he justifies making one of the deepest cuts in welfare benefits since the war. «BBC News, Jul 15»

Welfare economics: Public policy gave Kerala the leading edge

Enlightened public policy helped put Kerala way ahead of other States in the race to achieve the overall well-being of its people. It would be instructive to ... «Hindu Business Line, Dec 14»

Trickle-Down Welfare Economics?

icon_22372 Over at NRO, Thomas Sowell takes on what he calls the “lie” of “trickle-down economics.” Thus, writes Sowell, “the 'trickle-down' lie is 100 percent ... «Acton Institute, Jan 14»