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This important textbook has been revised and updated to continue its focus on the link between ethics and economic policy analysis, whilst ensuring that perspectives addressing the moral limits of the market, latest behavioural economics literature, and the changes in inequality over the years are included. Basic philosophical concepts are systematically described, followed by conventional welfare economic theory and policy, and applications to some topical economic problems such as income distribution and sustainable development.

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Wilfred Beckerman is an Emeritus Fellow of Balliol College, Oxford University, England, and is now an Honorary Visiting Professor in the Department of Economics at University College London. He has been a Member of the Royal Commission on Environmental Pollution; the Economic Advisor to the President of the British Board of Trade; and Head of Division at the Organisation of Economic Cooperation and Development. He has also been a Visiting Professor at universities in France and the U.S.A., and a consultant to the World Bank, the United Nations, and the International Labour Organization. His books include An Introduction to National Income Analysis; In Defence of Economic Growth; Measures of Leisure, Equality and Welfare; Poverty and the Impact of Income Maintenance Programs; Growth, the Environment and the Distribution of Incomes; Poverty and Social Security in Britain since 1961 [with Stephen Clark]; and Justice, Posterity, and the Environment [with Joanna Pasek].

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