welfare economics

American  

noun

1. a branch of economics concerned with improving human welfare and social conditions chiefly through the optimum distribution of wealth, the relief or reduction of unemployment, etc.

---

welfare economics British  

noun

1. the aspects of economic theory concerned with the welfare of society and priorities to be observed in the allocation of resources

---

Example Sentences

Among its many challenges: to resolve internal rivalries, market its platform of welfare economics, forge strategic alliances with India's multitude of regional parties, and counter the strong messaging power of Modi and the BJP, analysts said.

From Reuters

First, officials should update formulas using principles from welfare economics, a field focused on allocating economic resources to improve overall societal well-being.

From Seattle Times

In more advanced economics courses, that lesson is called the first fundamental theorem of welfare economics.

From New York Times

During more than six decades of teaching and writing, Sen has transformed the study of famines and the field of welfare economics, work for which, in 1998, he received the Nobel Prize.

From The New Yorker

As Mr Martin explains, the welfare economics of migration is straightforward.

From Economist