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Theories of Welfare Economics: A Short Synthesis

Ionela Bălţătescu and George Dumitrescu ()

Revista de Economie Mondiala / The Journal of Global Economics, 2015, vol. 7, issue 3

Abstract: Economic analysis of welfare open relevant lines of investigation to anyone trying to critically the problem of welfare in human society assess and to evaluate practices, rules and institutions from the point of view of economic efficiency . In this regard, in the present article we realize a short synthesis and literature review of theories of welfare economics summarizing the main approaches and the main issues dealt with: interpersonal utility comparision, principle of demonstrated preference, wealth and welfare measurement, Pareto criterion of efficency etc.

Keywords: Interpersonal utility comparision; principle of demonstrated preference; wealth and welfare measurement; Pareto criterion of efficency (search for similar items in EconPapers)
JEL-codes: D60 I31 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:iem:journl:v:3:y:2015:id:2822000009561015