21. It was there that he did his main work on welfare economics , with its application to social accounting. 22. 1998 : Amartya Sen, Indian, for work on analyzing the causes of famine and other welfare economics issues. 23. Welfare economics seeks to evaluate economic policies in terms of their effects on the well-being of the community.24. The public health imperative of well-being is exactly mirrored in the socio-economic philosophy of capabilities as welfare economics . 25. Welfare economics uses the perspective and techniques of microeconomics, but they can be aggregated to make macroeconomic conclusions.26. It has been applied to social welfare economics , the crisis of global poverty, the existential risks to humanity. 27. However, perhaps most significant of all are concerns about the limits of a utilitarian approach to welfare economics . 28. Beginning in the 1950s, Inada wrote a number of important papers on welfare economics , economic growth and international trade. 29. _1998 : Amartya Sen, India, for contributions to welfare economics , which help explain the economic mechanisms underlying famines and poverty. 30. Welfare economics deals with the issue of the overall benefit to society of changes that harm some and help others.
