First Published in 1924, The Relation of Wealth to Welfare examines
certain definite and fundamental elements of human welfare and
their relation to private income on the one hand and various kinds
of collective action on the other. The four elements discussed in
the book are health, art, work, and education. The author argues
that the power of private income to increase the welfare of its
possessor in regard to the various elements under examination is as
a matter of fact frequently or even always comparatively small;
whereas the power of collective action and public expenditure to do
so is often comparatively great. This book is an essential read for
students and researchers of political economy, political studies,
and economics in general.
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