Paretian Welfare Economics
Paretian welfare economics rests on the assumed value judgment that, if a particular change in the economy leaves at least one individual better off and no individual worse off, social welfare may be said to have increased.
Read more about this topic: Welfare Economics
Famous quotes containing the words welfare and/or economics:
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be humble and wear your dress and your smile, and don’t talk
back ...”
—Susan Griffin (b. 1943)
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—George Steiner (b. 1929)