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Welfare Economics

...... That said, the subject of welfare economics is complicated by the often entangled motives of governments, private corporations and the wealthy. The cross-section of these parties is generally entrusted with the responsibility of either deregulating or intervening with free-market competition through the interests of greater social welfare. Indeed, most developed and industrialized nations will support some form of public assistance for the impoverished. But our research speculates as to the motives or suitability of governments for this responsibility. So is this argument posited by Besley (2002), who indicates that welfare economic approaches to the policy process have been criticized by those operating in the public choice tradition, for failing to consider how actual policy choices are made. Thus, even if we were able to understand what optimal policies are, there is no guarantee that the kinds of decision making institutions that we observe in reality will bring them about. The public choice critique of welfare economics says that, by failing to model government, it provides a misleading view of the appropriate role for government. (p. 1)
It is here from that many modern social welfare theorists have authored their harshest critique of utilitarian theories, arguing that the natural market