Welfare economics
From The Art and Popular Culture Encyclopedia
|
Related e |
|
Featured: |
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an economy as to economic efficiency and the resulting income distribution associated with it. It analyzes social welfare, however measured, in terms of economic activities of the individuals that compose the theoretical society considered. Accordingly, individuals, with associated economic activities, are the basic units for aggregating to social welfare, whether of a group, a community, or a society, and there is no "social welfare" apart from the "welfare" associated with its individual units.
[edit]
See also
- Arrow's impossibility theorem
- Compensation principle
- Consumer surplus
- Cost-benefit analysis
- Deadweight loss
- Distribution (economics)
- Equity (economics)
- Feminist economics
- Gini coefficient
- Income inequality metrics
- Justice (economics)
- Kaldor-Hicks efficiency
- Lorenz curve
- Pareto efficiency
- Social welfare function
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Welfare economics" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
