Discover the principles of economic justice, how it fosters equality, and explore actionable strategies to achieve fair ...

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 ...

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 ...

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 ...

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 ...

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 ...