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Sustainable Economic Development Strategy

Table 1:

The direction of economic thought social welfare theory Treatment of the welfare category
1th step
Smith Adam (Smith, 1904) Welfare as the value of assets. Economic well-being
2nd step
Bentham Jeremy(Bentham, 1907);Pigou Arthur C. (Pigou,1932) The welfare state is a society in which all citizens of the country can expect to receive a minimum income and the necessary public services.
3rd step
Oyken V.(Oyken,1995) The economic order has the ability to effectively provide society with limited benefits and continuously improve the general welfare.
4th step
Bergson Henri (Bergson, 1911)Samuelson Paul A. (Samuelson, 1947)Arrow Kenneth J. (Arrow, 1970) Welfare state. Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level. A typical methodology begins with the derivation (or assumption) of a social welfare function, which can then be used to rank economically feasible allocations of resources in terms of the social welfare they entail.
5th step
Buchanan James MacGill&Tullock Gordon C. (Buchanan et al, 1962);North Douglass Cecil (North,1980) The welfare state as an instrument for redistribution in society in defenseof the individual interests.
6th step
Diener Ed (Diener& Tay, 2016)Casati Fabio (Baryshev et al, 2016) Wellness. The well-being of society is realized through the well-being of individuals, individuals, who, through the prism of subjectivism, assess the degree of satisfaction with their lives. The economic content of the category is revealed in the possibilities of economic self-realization, that is, the opportunities that the system provides for the implementation of any desired socio-economic roles, regardless of social affiliation.
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