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Books > Social sciences > Sociology, social studies > Social welfare & social services > Welfare & benefit systems
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Measuring Social Welfare - An Introduction (Paperback)
Loot Price: R1,464
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Measuring Social Welfare - An Introduction (Paperback)
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Disputes over government policies rage in a number of areas. From
taxation to climate change, from public finance to risk regulation,
and from health care to infrastructure planning, advocates debate
how policies affect multiple dimensions of individual well-being,
how these effects balance against each other, and how trade-offs
between overall well-being and inequality should be resolved. How
to measure and balance well-being gains and losses, is a vexed
issue. Matthew D. Adler advances the debate by introducing the
social welfare function (SWF) framework and demonstrating how it
can be used as a powerful tool for evaluating governmental
policies. The framework originates in welfare economics and in
philosophical scholarship regarding individual well-being, ethics,
and distributive justice. It has three core components: a
well-being measure, which translates each of the possible policy
outcomes into an array of interpersonally comparable well-being
numbers, quantifying how well off each person in the population
would be in that outcome; a rule for ranking outcomes thus
described ; and an uncertainty module, which orders policies
understood as probability distributions over outcomes. The SWF
framework is a significant improvement compared to cost-benefit
analysis (CBA), which quantifies policy impacts in dollars, is
thereby biased towards the rich, and is insensitive to the
distribution of these monetized impacts. The SWF framework, by
contrast, uses an unbiased measure of well-being and allows the
policymaker to consider both efficiency (total well-being) and
equity (the distribution of well-being). Because the SWF framework
is a fully generic methodology for policy assessment, Adler also
discusses how it can be implemented to inform government policies.
He illustrates it through a detailed case study of risk regulation,
contrasting the implication of results of SWF and CBA. This book
provides an accessible, yet rigorous overview of the SWF approach
that can inform policy-makers and students.
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