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Economics 101: Welfare Economics | SterlingTerrell.net

Economics 101: Welfare Economics

 What is welfare economics?

Welfare Economics is a branch of economics concerned with the interests, or well-being, of people impacted by economic policies.

For instance, welfare economics might study questions like:

  • What are the advantages and disadvantages of increasing or decreasing the corporate tax rate?
  • Who would be harmed or helped by a national income, and by how much?
  • And what is the impact of a particular regulation?
This obviously assumes quite a bit, in regard to the subjective value of individual preferences.