National Income

National Income The welfare economist is able to demonstrate the intimate relation between national income and welfare. Increase in national income or favorable redistribution  favorable to the poor is  bound  o increase the measure of welfare in  the community Seuss...

Monopoly versus Competition

Monopoly versus Competition economist j opposed to monopoly since it stands in way of optimum conditions of production and exchange. There is therefore strong support for perfect  competition on welfare grounds. It is only under perfect competition that both by...

Taxation

Taxation When a Government has to resort to taxation to raise resources. welfare will be increased if the revenue is ought to be raised through direct taxation  income tax rather than indirect taxation sales tax  or excise duty If a person pays income tax instead of...

Rationing

 Rationing From the point of view of maximizing welfare  points rationing which gives each consumer some  fixed umber of ration points) is better than fixed rationing  which permits a consumer to buy only a fixed quantity of each commodity. This is so because the...

APPLICATIONS OF WELFARE ECONOMICS

APPLICATIONS OF WELFARE ECONOMICS We know that welfare economic analysis is intended  to enable the economist to make policy  commendations  so that social welfare is maximized Such recommendations may cover the diverse   idles of the  economy Hence policy...