Comparison of the Neoclassical School of Welfare and the school of New Welfare Economics
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XXVII, No.2, 2015, pages 37-46
Issue:
Pages:
37-46
Author:
Abstract:
This paper analyzes the theory of welfare as founded and shaped by the basic two schools of economics thought i.e.the Neoclassical Approach and Modern Approach and furthermore on the view of echics and crisis. The main expressor of welfare theory is Arthur Cecil Pigou, whose work decisively determined the economic welfare and introduced as a subject of study of economics. Some favore dpigkouvian theory while others diversified. Through these trends, the theory of welfare developed and evolved in the history of economic thought.
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Subject (LC):
Keywords:
economic welfare, history of economic thought, crisis
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