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Social Welfare :
So what is "social welfare"?
Here is a simple definition:
Social welfare is about how people, communities and institutions in a society take action to provide certain minimum standards and certain opportunities. It is generally about helping people facing contingencies
The well-being of the entire society. Social welfare is not the same as standard of living but is more concerned with the quality of life that includes factors such as the quality of the environment (air, soil, water), level of crime, extent of drug abuse, availability of essential social services, as well as religious and spiritual aspects of life.
A social welfare function is a mapping from allocations of goods or rights among people to the real numbers.
Such a social welfare function (abbreviated SWF) might describe the preferences of an individual over social states, or might describe outcomes of a process that made allocations, whether or not individuals had preferences over those outcomes.
So what is "social welfare"?
Here is a simple definition:
Social welfare is about how people, communities and institutions in a society take action to provide certain minimum standards and certain opportunities. It is generally about helping people facing contingencies
The well-being of the entire society. Social welfare is not the same as standard of living but is more concerned with the quality of life that includes factors such as the quality of the environment (air, soil, water), level of crime, extent of drug abuse, availability of essential social services, as well as religious and spiritual aspects of life.
A social welfare function is a mapping from allocations of goods or rights among people to the real numbers.
Such a social welfare function (abbreviated SWF) might describe the preferences of an individual over social states, or might describe outcomes of a process that made allocations, whether or not individuals had preferences over those outcomes.
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