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First published in 1950, this text is concerned with the exposition, criticism, and appreciation of the theory of economic welfare as it had been developed to that date. It represents an attempt to clarify what was meant by "welfare"; to distinguish measurable, verifiable elemen…
Considered an enormously influential work this critique of the economics of welfare is reissued with a new preface by the author in which he assesses the contribution that it made in the light of subsequent literature covering this subject area.