Economics Dictionary of Arguments

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Welfare economics: Welfare economics examines how resources are allocated for optimal societal well-being and efficiency. It assesses the distribution and utilization of goods and services, aiming to maximize overall social welfare. See also Utilitarianism, Society, Justice, Distributive justicem, Efficiency, Pareto-Optimum.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Kenneth J. Arrow on Welfare Economics - Dictionary of Arguments

Mause I 271
Welfare Economics/Arrow:
Def Arrow theorem: it is impossible to democratically derive from the unrestricted preferences of individuals a consistent social welfare function that cannot be manipulated by adding irrelevant alternatives and fulfils the Pareto criterion. (1) ArrowVsNeoclassical theories, See Welfare Economics/Neoclassical Economics
Problems: See Benefit/Mueller, Dennis C.

1.Kenneth J. Arrow, Social choice and individual values. New Haven 1951.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconArrow I
Kenneth J. Arrow
Social Choice and Individual Values: Third Edition New Haven 2012

Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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