All the progress made by the economists who established the theory of welfare, are based on the needs for the progress in engineering that marked out the era of the industrial revolution. All the models that go along with these theories are based on the science of engineering and contributed at...

Social welfare is a major issue in both developing and developed countries, including Korea. Political parties are especially struggling with the choice between universal or selective welfare but hardly any clear guidelines exist. This paper reviews universal versus selective welfare concepts...