This paper presents the Paretian Watershed and the fundamental theorems of welfare economics. It distinguishes the British approach (à la Kaldor-Hicks) from the American approach (à la Bergson-Samuelson) to new welfare economics. It develops the more recent domains of happiness economics, the...

Verlagsinfo: "Introduction to Welfare theory, public action and ethical values Revisiting the history of welfare economics By Roger E. Backhouse, Antoinette Baujard and Tamotsu Nishizawa The Introduction explains the concepts of welfarism and non-welfarism, relating it to the way economists have...

This innovative history of welfare economics challenges the view that welfare economics can be discussed without taking ethical values into account. Whatever their theoretical commitments, when economists have considered practical problems relating to public policy, they have adopted a wider...