Abstract
Welfare economics can be considered as the normative branch of economics and in particular it attempts at a valuation of the policy goals. It is concerned with the well-being of a group or of society as a whole. This being so it must evaluate the various states in which an economy can find itself. Each state will involve a different consumption and production pattern, a different distribution of factors and a different distribution of income.
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© 1975 R. Shone
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Shone, R. (1975). Welfare Economics. In: Microeconomics. Palgrave, London. https://doi.org/10.1007/978-1-349-15593-4_10
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DOI: https://doi.org/10.1007/978-1-349-15593-4_10
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-18019-8
Online ISBN: 978-1-349-15593-4
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