Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

Explore John R. Hicks' impact on economics, including his Nobel-winning work in general equilibrium and welfare theory, and ...

Welfare economics examines the allocation of resources and its impact on individual and social well‐being. Rooted in classical notions of Pareto efficiency, the field has evolved to encompass a broad ...

The introduction of subsidies into insurance rates constitutes a type of quasi-welfare payment but leaves open the question of whether social welfare is increased, decreased, or unchanged by the ...

This week marks the 20 th anniversary of welfare reform. Welfare reform broadly refers to the bipartisan Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) in 1996. Among other ...

James Buchanan wrote "An Economic Theory of Clubs" and invented clubs to support a form of welfare economics in which there is no social welfare function (SWF) and individual utility functions cannot ...

Based on data from the Census Bureau, America already spends nearly four times as much on welfare as would be necessary to bring all of the poor up to the poverty level in cash, eliminating poverty in ...

EVERY JANUARY a curious migration occurs. Thousands of economists from around the world flock to a big American city for the annual meetings of the American Economic Association (AEA). The pandemic ...

Dog owners in Canberra, Australia must now walk their companions daily or face a $2,700 fine, due to a 2019 animal welfare law recognizing dogs as sentient beings. Does requiring the humane treatment ...