Welfare Economics


Book chapter


Edward R. Morey
Encyclopedia of Business and Professional Ethics, Springer, https://link.springer.com/referencework/10.1007/978-3-319-23514-1, 2021


Semantic Scholar DOI
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APA   Click to copy
Morey, E. R. (2021). Welfare Economics. In Encyclopedia of Business and Professional Ethics. https://link.springer.com/referencework/10.1007/978-3-319-23514-1: Springer. https://doi.org/10.1007/978-3-319-23514-1_1148-1


Chicago/Turabian   Click to copy
Morey, Edward R. “Welfare Economics.” In Encyclopedia of Business and Professional Ethics. https://link.springer.com/referencework/10.1007/978-3-319-23514-1: Springer, 2021.


MLA   Click to copy
Morey, Edward R. “Welfare Economics.” Encyclopedia of Business and Professional Ethics, Springer, 2021, doi:10.1007/978-3-319-23514-1_1148-1.


BibTeX   Click to copy

@inbook{edward2021a,
  title = {Welfare Economics},
  year = {2021},
  address = {https://link.springer.com/referencework/10.1007/978-3-319-23514-1},
  journal = {Encyclopedia of Business and Professional Ethics},
  publisher = {Springer},
  doi = {10.1007/978-3-319-23514-1_1148-1},
  author = {Morey, Edward R.}
}

The material here is expanded upon in my book
Welfare economics is an ethic (a method for determining whether an action, behavior, or policy is right or wrong). Many economists endorse it to determine right from wrong: whether an action is ethical/moral vs. unethical/immoral. Those that increase societal well-being are (ethically) right and those that decrease it are wrong, and those that increase it more are ethically preferred to those that increase it less.
“Welfare economics is an atypical form of welfare consequentialism, WC: consequentialist in that whether an act or policy is right or wrong is a function of only its consequences—the [adjective] welfare because the only consequences that matter are the welfare (well-faring) consequences. [But] most welfare...





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