Impact On Economics
Followers in the neoclassical tradition, such as William Beveridge and Arthur Pigou have continued to define economics in terms of material welfare. According to Pigou, "the range of enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money".
Read more about this topic: Welfare Definition Of Economics
Famous quotes containing the words impact on, impact and/or economics:
“Too many existing classrooms for young children have this overriding goal: To get the children ready for first grade. This goal is unworthy. It is hurtful. This goal has had the most distorting impact on five-year-olds. It causes kindergartens to be merely the handmaidens of first grade.... Kindergarten teachers cannot look at their own children and plan for their present needs as five-year-olds.”
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