welfare economics

noun

Definition of welfare economics

: a branch of economics dealing with human welfare, the defining of wealth, and the establishment of guides for social policy aiming at the maximization of total individual utilities

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First Known Use of welfare economics

1920, in the meaning defined above

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The first known use of welfare economics was in 1920

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Dictionary Entries Near welfare economics

welfare capitalism

welfare economics

welfare factor

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Cite this Entry

“Welfare economics.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/welfare%20economics. Accessed 7 Dec. 2021.

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