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Biological welfare economics: a natural science critique of normative economics.

Authors :
Burnham, Terence C.
Phelan, Jay
Source :
Journal of Bioeconomics; Apr2023, Vol. 25 Issue 1, p1-33, 33p
Publication Year :
2023

Abstract

Welfare economics analyzes societal well-being based on individual levels of self-evaluated happiness or "utility." All human emotions, including what economists label as utility, are evolutionary creations, shaped by natural selection for the sole purpose of altering individuals' behavior in ways that maximize their relative reproductive success. Because of the evolutionary origins and nature of human motivations, welfare economics has little to say about societal well-being. While welfare economics is not useful for normative statements, it nonetheless provides a measure of the difficulties in implementing policy. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
13876996
Volume :
25
Issue :
1
Database :
Complementary Index
Journal :
Journal of Bioeconomics
Publication Type :
Academic Journal
Accession number :
163022156
Full Text :
https://doi.org/10.1007/s10818-023-09333-x