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Welfare Economics

In: Microeconomics

Author

Listed:
  • R. Shone

    (University of Sheffield)

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.

Suggested Citation

  • R. Shone, 1975. "Welfare Economics," Palgrave Macmillan Books, in: Microeconomics, chapter 10, pages 249-280, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15593-4_10
    DOI: 10.1007/978-1-349-15593-4_10
    as

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