Welfare Economics in Relation To Other Subjects
Welfare economics uses many of the same techniques as microeconomics and can be seen as intermediate or advanced microeconomic theory. Its results are applicable to macroeconomic issues so welfare economics is somewhat of a bridge between the two branches of economics.
Cost-benefit analysis is a specific application of welfare economics techniques, but excludes the income distribution aspects.
Political science also looks into the issue of social welfare (political science), but in a less quantitative manner.
Human development theory explores these issues also, and considers them fundamental to the development process itself.
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Famous quotes containing the words welfare, economics, relation and/or subjects:
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—George Steiner (b. 1929)
“The difference between objective and subjective extension is one of relation to a context solely.”
—William James (1842–1910)
“We should treat our minds, that is, ourselves, as innocent and ingenuous children, whose guardians we are, and be careful what objects and what subjects we thrust on their attention.”
—Henry David Thoreau (1817–1862)