Use of microeconomic techniques to simultaneously determine alloceative efficiency within an economy and the income distribution associated with is the domain of welfare economics. It analyzes social welfare in terms of economic activities.
Welfare economics is concerned with both positive and normative questions. The notion of best considers both efficiency and equity. “Welfare Economics” brings before the readers all concepts, theorems, methods, processes concerning economics that may be needed to evolve principles of social welfare for optimal utilization of resources and redistribution of income.
The book is of utmost utility and a must for students, teachers, economists, social organizations and general readers.
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