Journal of Social Issues & Humanities, Volume (2), No (12), Year (2014-7) , Pages (384-387)

Title : ( Fundamentals of Welfare Economics and its Critiques )

Authors: Mahdi Khodaparast Mashhadi , Gholamali Rahimi ,

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welfare economics is the heart of neoclassical economics. it provides an ideological basis that forms total complex neoclassical structure for capitalism. during one century traditional economics has been criticized by its unreal assumptions like homogeneity, maximization, economic human, and limitations of social benefits applied to it. however these assumptions have remained in the heart of orthodox theories. these comprise general principles and axioms of neoclassic welfare economics and no other capitalism ideology can provide a total and precise justification. welfare economics is a branch of economics which evaluates economic welfare by minor economic techniques, especially in relation with general equilibrium balance. in the frame of concepts such as efficiency and income distribution, Deardorff,s Glossary of International Economics, 2006: In fact welfare economics concentrate on optimal resource allocations and its effects on social welfare. Importance and weights of welfare Economics in economics is exclusive. A large part of science of economics is related to formation and evolution of welfare economic theories. In fact, if we remove tracks of welfare from its current economic theory, we can hardly can imagine economics (Blaug, 1987), therefore recognition of principles and fundamentals of welfare economic theory and its critiques is necessary to now the modern science framework. this research studies fundamentals of welfare economics, its historical path, and its critiques.


, Welfare Economics, utility, Social Welfare Function, General Balance, Pareto Efficiency, External Effects
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author = {Khodaparast Mashhadi, Mahdi and Rahimi, Gholamali},
title = {Fundamentals of Welfare Economics and its Critiques},
journal = {Journal of Social Issues & Humanities},
year = {2014},
volume = {2},
number = {12},
month = {July},
issn = {2345-2633},
pages = {384--387},
numpages = {3},
keywords = {Welfare Economics; utility; Social Welfare Function; General Balance; Pareto Efficiency; External Effects},


%0 Journal Article
%T Fundamentals of Welfare Economics and its Critiques
%A Khodaparast Mashhadi, Mahdi
%A Rahimi, Gholamali
%J Journal of Social Issues & Humanities
%@ 2345-2633
%D 2014