Welfare Criteria
From the above discussion we can deduce some criteria for welfare judgments. These criteria enable he economists to make welfare Compartmentalization is to aye whether welfare has been increased or decreased whether it has been maximized The following criteria may be mentioned Pareto Criterion Italian economist Evildoer Pareto enunciated a very chimp and straightforward criterion us Any which harms no one and which makes some better off (in their own stimulation) must be co side red to be an improvement The op cation of goods song consumers is based on this criterion. According to this criterion rationing which permits every consumer to benefit by adjusting his purchases in accordance In tastes and desires without harming an s better than fixed rationing obviously this en does not cover cases in which an cede while benefiting some arms others are simply brushed aside. Thus the cruft inter personal comparisons is bypassed. u Waldorf Hicks Criterion Ac ring to this
