NEW WELFARE ECONOMICS

The New Welfare Economics represents a break  with the utilitarian tradition in   economic. The new  welfare economists claim to arrive at optimum conditions of   production and exchange without adding the utilities of different persons or   comparing the satisfactions of different individuals. The new welfare  economics is   lamed to be objective and scientific and not ethical It is said that welfare economic furnishes  as analysis of the causes governing the measure of welfare or an increase or decrease thereof Pareto is said to be the founder of new Welfare economic, although there have been introduced some subsequent refinements since hen. About the welfare  propositions laid down by Pareto even now there is general   agreement. We shall therefore. presently deal  with them