Welfare Economics

Author: Yao Mingxia
Publisher:
Publish Date: 2005-01-01
Features: The three compelling reasons to read this book:
The First Major Reason: Fundamentally Examining Western Economics. The welfare economics introduced in this book will clearly articulate these important judgment criteria and discuss them in detail, enabling us to fundamentally understand the logical framework and conclusions of Western economics. The welfare economics presented here questions the rational economic man hypothesis from one perspective, pointing out that it has severe flaws in the development of welfare economics and even Western economics as a whole, necessitating its revision.
The Second Major Reason: Objectively Viewing the Market Economy. The welfare economics introduced in this book will tell us: Western economics, based on certain assumptions, explains some objective operational laws of the market economy from one angle, but that is far from the entirety of the market economy. Under what conditions is the market economy efficient? What conditions are required for an efficient market economy in reality? Which conditions can be met, and which are difficult to meet? What pathways might exist to establish an efficient market economy? More importantly, the welfare economics introduced in this book will explain: Even if those conditions are met, we cannot automatically assume that such a market economy is good.
The Third Major Reason: Pursuing What Should Be Pursued. The welfare economics introduced in this book will provide guidance for the development direction of individuals and even nations, helping us understand what we should truly pursue. Personal utility is not the only important thing; a person should not pursue their own utility or interests while ignoring those of others or the nation. Whether in theory or practice, individualism is untenable. At the same time, it is even more important to overcome the shortcomings of capitalist market economies, emphasize harmony between people and nature, and between people and themselves, value the comprehensive development of individuals, rationally utilize science and technology, and benefit humanity and the Earth.