Poverty and new welfare economics

• What is New Welfare Economics (NWE), how does it explain poverty, and what can we learn from this school of thought when it comes to poverty relief? Answering these questions is the aim in this chapter. The chapter opens with a description of the development of NWE and its central tools and concepts, providing a non-technical explanation of the differences between ʼnew’ and ‘old’ welfare economics. In general, the chapter focuses less on technicalities and more on the development and applications of NWE. Having described the core of NWE, the framework is applied to the determination of individual income and various approaches to inequality and poverty are discussed. The chapter is concluded with some final remarks.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

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