TL;DRAbstract
This chapter commences with a discussion of the association between poverty, inequality and social welfare, leading to a definition of social welfare that allows for a trade-off between efficiency and equity. The second section of the chapter deals with national accounting based measures of social welfare, primarily GDP per capita In the final section of the chapter some recent measures of welfare are described.
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This chapter commences with a discussion of the association between poverty, inequality and social welfare, leading to a definition of social welfare that allows for a trade-off between efficiency and equity. The second section of the chapter deals with national accounting based measures of social welfare, primarily GDP per capita In the final section of the chapter some recent measures of welfare are described.
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