The Economics of Welfare [Paperback]

Originally published in 1920, The Economics of Welfare provided a solution to the much discussed problem of externalities associated with market inefficiencies such as the problem of pollution. The concept of externalities remains central to modern day welfare economics and particularly environmental economics.PART I: WELFARE AND THE NATIONAL DIVIDEND 1. Welfare and Economic Welfare 2. Desires and Satisfactions 3. The National Dividend 4. What is Meant by Capital Intact 5. Changes in Size of the National Dividend 6. The Measurement of Changes in the Size of the National Dividend 7. Economic Welfare and Changes in the Size of the National Dividend 8. Economic Welfare and Changes in the Distribution of the National Dividend 9. Reactions Through the Numbers of the Population 10. The National Dividend and the Quality of the People 11. The Method of Discussion to be Followed PART II: THE SIZE OF THE NATIONAL DIVIDEND AND THE DISTRIBUTION OF RESOURCES AMONG DIFFERENT USES 12. Introductory 13. The Definition of Marginal Social and Private Net Products 14. The Values of Marginal Social Net Products and the Size of the National Dividend 15. Rates of Return and the Values of Marginal Private Net Products 16. The Effects of Eliminating Obstacles to Movement 17. Hindrances to Equality of Returns due to Imperfect Knowledge 18. Hindrances to Equality of Returns due to Imperfect Divisibility of the Units in Terms of which Transactions are Conducted 19. Hindrances to Equality of Returns due to Relative Variations of Demand for Productive Resources in Different Occupations and Places 20. Divergence between Marginal Social Net Product and Marginal Private Net Product 21. Marginal Private and Social Net Products I Relation to Industrial Forms 22. Increasing and Decreasing Supply Price 23. State Regulation of Competitive Prices 24. State Regulation of Supplies 25. The Conditions of Monopolisation 26. Monopolistic Competition 27. Simple Monopoly 28. Discriminating Monopoly 29. The SpecilC'