Description

About the Book

Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine allocative efficiency within an economy and income distribution associated with it. It analyses social welfare, however, measured in term of economic activities of the individuals. At the theoretical level, welfare economics has provided limited support for other economic theories and has contributed to philosophical debates about the role of the state. At the operational level, it has been widely applied by economic advisers to the problem of estimating the effect of proposed policy changes upon the well-being of those who would be affected.

This revised enclyclopaedia deals with the fundamental ideas and argument drawn from traditional, classical and neoclassical analysis of most up-to-date, authoritative and accessible guide to the modern welfare economics. Entries included in this edition fall broadly within the lines of thought associated with welfare economics. Majority of entries are theoretical and historical in emphasis. This edition is organized alphabetically into over 115 entries, covering the whole spectrum of the subject welfare economics.

About the Author

Dr. Sunil Chaudhary is well-known author and freelance journalist. He took his M.A from Delhi University, Delhi, and Ph.D. in welfare Policy from Patana University, Patana. Dr. Chaudhary has many research papers published in journals of national and international repute. He is an author of ‘Welfare Policy and Social Development’. His area of research is social justice and welfare economy. Presently he is associated with several newspapers and magazines as a freelance journalist. The author is keenly interested in the dynamics of the international economic system and its effect on different sectors of the economy.