Search results
Results from the WOW.Com Content Network
Arthur Cecil Pigou (/ ˈ p iː ɡ uː /; 18 November 1877 – 7 March 1959) was an English economist.As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chairs of economics around the world.
The Pigou–Dalton principle (PDP) is a principle in welfare economics, particularly in cardinal welfarism. Named after Arthur Cecil Pigou and Hugh Dalton, it is a condition on social welfare functions. It says that, all other things being equal, a social welfare function should prefer allocations that are more equitable. In other words, a ...
Trump is also dialing back worker protections while freeing businesses to worry less about hiring practices and environmental protection. His threatened tariffs, if they ever go into effect, would ...
Lyndon B. Johnson (1963-69) What Happened to Welfare. In August 1964, President Johnson signed the Economic Opportunity Act, a package of legislation that created a variety of social programs to ...
There are two fundamental theorems of welfare economics. The first states that in economic equilibrium , a set of complete markets , with complete information , and in perfect competition , will be Pareto optimal (in the sense that no further exchange would make one person better off without making another worse off).
Donald Trump, getting history and economics very wrong. Indeed, he seems to know one thing about the 1890s in America: That it was a period of high tariffs. (Or maybe two things, the other being ...
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [ 1 ] The principles of welfare economics are often used to inform public economics , which focuses on the ways in which government intervention can improve social welfare .
Public interest theory is a part of welfare economics. It emphasizes that regulation should maximize social welfare and that regulation should follow a cost/benefit analysis to determine whether the increased social welfare outweighs the regulatory cost. The following costs can be distinguished: [citation needed] Formulation and implementation ...