Welfare (Well-Faring) Economics, Criteria for What Is Right and Wrong: My Take

Edward Morey ()

Chapter Chapter 4 in Deconstructing Behavior, Choice, and Well-being, 2023, pp 79-118 from Springer

Abstract: Abstract Welfare economics is an ethic: a criterion for determining whether a behavior is right (morally) or wrong. It is a rare type of welfare consequentialism. Only consequences matter, WB consequences. A behavior of right (wrong) if it increases (decreases) societal WB, where societal WB is some aggregation of the WBs of society’s members. Most welfare consequentialists reject welfare economics. And most people are not welfare consequentialists. Welfare economics is not utilitarianism. But it and NCT are conjoined bedfellows—think Mickey and Donald or an old, married couple.

Keywords: Welfare economics; Utilitarian; Welfare consequentialism (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-36712-0_4

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DOI: 10.1007/978-3-031-36712-0_4

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