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Topic: Welfare economics

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In the News (Tue 18 Jun 19)

  The Jackson Progressive: Economics and Welfare
Peter Orszag, Joseph A. Pechman Senior Fellow in Tax and Fiscal Policy at the Brookings Institution, and Joseph Stiglitz, Professor of Economics at Columbia University and one of the recipients of the 2001 Nobel Prize in Economics, explore the impact of state budget cuts versus tax increases during the current recession.
Persons, particularly children, who lose welfare assistance under the new laws do not necessarily lose their eligibility for medicaid.
A society that tolerates 30% child poverty and an infant mortality rate of 1.1% when the national averages are 18.7% and.73%, respectively, has its priorities in the wrong place.
www.jacksonprogressive.com /issues/econandwelfare/welfaremain.html   (3828 words)

  A Quiet Revolution In Welfare Economics
A Quiet Revolution In Welfare Economics is an in-depth and comprehensive technical study of existing approaches to understanding the effects of economies on workers and consumers, plus an alternative framework the authors advocate, plus discussion of associated value structures, concepts, and theories, and presentation of new theorems and results.
When preferences are recognized as endogenous, we prove this deficiency leads centrally planned economics to increasingly inefficient allocations of society's laboring capabilities as well as to growing apathy among workers.
Conclusion we point out that traditional theory is increasingly unable to distinguish between the welfare properties of different economic systems except on "practical" grounds.
www.zmag.org /books/quiet.htm   (925 words)

  Bambooweb: Welfare economics
Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine the allocational efficiency of a macroeconomy and the income distribution consequences associated with it.
Welfare economics is concerned with the welfare of individuals, as opposed to groups, communities, or societies because it assumes that the individual is the basic unit of measurement.
Welfare economics uses many of the same techniques as microeconomics and can be seen as intermediate or advanced microeconomic theory.
www.bambooweb.com /articles/w/e/Welfare_economics.html   (2006 words)

  Dale Jorgenson's Collected Works
Welfare for each individual is proportional to total expenditure and inversely proportional to an index of the cost of living.
While a cardinal measure of individual welfare that is fully comparable among individuals is implicit in the index number approach to welfare economics, differences among individuals are ignored and preferences are assumed to be homothetic.
The gain in social welfare from this redistributional policy is a measure of poverty analogous to the measure of inequality presented in chapter 3.
post.economics.harvard.edu /faculty/jorgenson/colwork/welfarep2.html   (6288 words)

 Toward a Reconstruction of Utility and Welfare Economics - Mises Institute
It is immaterial to economics whether a man chooses alternative A to alternative B because he strongly prefers A or because he tossed a coin.
Economics, in general, and welfare economics, in particular, have been plagued with the "problem of distribution." It has been maintained, for example, that assertions of increased social utility on the free market are all very well, but only within the confines of assuming a given distribution of income.
What welfare economics does is to present these conclusions to the framer of ethical judgments as part of the data for his ethical system.
www.mises.org /story/2205   (15175 words)

 The Prize in Economics 1998 - Press Release
By analyzing the available information about different individuals' welfare when collective decisions are made, he has improved the theoretical foundation for comparing different distributions of society's welfare and defined new, and more satisfactory, indexes of poverty.
In order to compare distributions of welfare in different countries, or to study changes in the distribution within a given country, some kind of index is required that measures differences in welfare or income.
Relying on his earlier analysis of information about the welfare of single individuals, Sen clarified when the index can and should be applied; comparisons can, for example, be made even when data are problematic, which is often the case in poor countries where poverty indexes have their most intrinsic application.
nobelprize.org /nobel_prizes/economics/laureates/1998/press.html   (2199 words)

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