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A branch of economics that focuses on the optimal allocation of resources and goods and how this affects social welfare. Welfare economics analyzes the total good or welfare that is achieve at a current state as well as how it is distributed. This relates to the study of income distribution and how it affects the common good.

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You ask: Is there any economic value contributed by humanities faculty? A response from Neo-classical economics: If there are for-profit companies hiring graduates from these faculties, then ye …
answered Jan 29 '17 by luchonacho
4
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A new report by the Roosevelt Institute answers exactly that using a Keynesian, Stock-Flow-Consistent model calibrated to the US. According to their result, when distributional changes are considered, …
answered Sep 19 '17 by luchonacho