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The Restoration of Welfare Economics

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  • Anthony B. Atkinson

Abstract

This paper argues that welfare economics should be restored to a prominent place on the agenda of economists, and should occupy a central role in the teaching of economics. Economists should provide justification for the ethical criteria underlying welfare statements, and these criteria require constant re-evaluation in the light of developments in economic analysis and in moral philosophy. Economists need to be more explicit about the relation between welfare criteria and the objectives of governments, policy-makers and individual citizens. Moreover, such a restoration of welfare economics should be accompanied by consideration of the adoption of an ethical code for the economics profession.

Suggested Citation

  • Anthony B. Atkinson, 2011. "The Restoration of Welfare Economics," American Economic Review, American Economic Association, vol. 101(3), pages 157-161, May.
    • Handle: RePEc:aea:aecrev:v:101:y:2011:i:3:p:157-61
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.157
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    References listed on IDEAS

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    1. Ręklewski Marek & Ryczkowski Maciej, 2016. "The Polish Regional Labour Market Welfare Indicator and Its Links to Other Well-being Measures," Comparative Economic Research, Sciendo, vol. 19(3), pages 113-132, September.
    2. European Commission, 2013. "Tax reforms in EU Member States - Tax policy challenges for economic growth and fiscal sustainability – 2013 Report," Taxation Papers 38, Directorate General Taxation and Customs Union, European Commission.
    3. Safarzyńska, Karolina, 2013. "Evolutionary-economic policies for sustainable consumption," Ecological Economics, Elsevier, vol. 90(C), pages 187-195.
    4. Olivier Bargain & André Decoster & Mathias Dolls & Dirk Neumann & Andreas Peichl & Sebastian Siegloch, 2013. "Welfare, labor supply and heterogeneous preferences: evidence for Europe and the US," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 41(4), pages 789-817, October.
    5. Paolo Giovanni Piacquadio, 2017. "A Fairness Justification of Utilitarianism," Econometrica, Econometric Society, vol. 85, pages 1261-1276, July.
    6. Cheng Li, 2019. "Morality and value neutrality in economics: a dualist view," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 12(2), pages 97-118, May.
    7. Thor O. Thoresen & Zhiyang Jia & Peter J. Lambert, 2016. "Is there More Redistribution Now? A Review of Methods for Evaluating Tax Redistributional Effects," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 72(3), pages 302-333, September.
    8. Konow, James, 2016. "Does Studying Ethics Affect Moral Views? An Application to Distributive Justice," MPRA Paper 75377, University Library of Munich, Germany.
    9. Deaton, Angus, 2018. "What do self-reports of wellbeing say about life-cycle theory and policy?," Journal of Public Economics, Elsevier, vol. 162(C), pages 18-25.
    10. H. Xavier Jara & Erik Schokkaert, 2017. "Putting measures of individual well-being to use for ex-ante policy evaluation," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 15(4), pages 421-440, December.
    11. Richard Cookson & Owen Cotton-Barrett & Matthew Adler & Miqdad Asaria & Toby Ord, 2016. "Years of good life based on income and health: Re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice," Working Papers 132cherp, Centre for Health Economics, University of York.
    12. Petar Stankov, 2017. "Economic Freedom and Welfare Before and After the Crisis," Springer Books, Springer, number 978-3-319-62497-6, December.
    13. Dorothée Brécard, 2013. "Environmental Quality Competition and Taxation in the Presence of Green Network Effect Among Consumers," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(1), pages 1-19, January.
    14. Glenn W. Harrison, 2019. "The behavioral welfare economics of insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(2), pages 137-175, September.
    15. Amavilah, Voxi Heinrich, 2011. "The Full Value of the Nobel Prize - Part 1: Mining “Data Without Theory”," MPRA Paper 33483, University Library of Munich, Germany.

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