Question

Discuss the approaches adopted by pigou and pareto for analyzing the problem of welfare economics

Answer 1

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Quetion :- Discuss the approaches adopted by pigou and pareto for analyzing the problem of welfare economics

Answer :- Arthur Cecil Pigou succeeded Prof. Marshall as the Professor of Economics at the University of Cambridge. After Marshall, he became the leading neo classical economist. He is the founder of “Welfare Economics” His leading ideas on welfare economics are found in his “Economics of Welfare” (1920). Prof. Pigou popularized the word welfare and gave a concrete meaning to it.

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