Significance of Economic welfare
Economic welfare, according to India's history, encompasses the overall well-being of society related to wealth, resources, and equitable access to quality of life. It emphasizes the prosperity and financial stability of individuals and communities, aiming for fair wealth distribution. Additionally, it includes efforts to enhance the conditions of disadvantaged groups. In scientific terms, economic welfare refers to the improved financial and social conditions through healthy practices and sustainable use of local resources, highlighting the interplay between economics and social health.
Synonyms: Economic well-being, Economic prosperity, Economic security, Economic health, Financial wellness, Prosperity, Well-being, Quality of life, Financial health, Social welfare, Affluence.
In Dutch: Economisch welzijn; In Finnish: Taloudellinen hyvinvointi; In Spanish: Bienestar económico
The below excerpts are indicatory and do represent direct quotations or translations. It is your responsibility to fact check each reference.
Hindu concept of 'Economic welfare'
In Hinduism, economic welfare is linked to mental health, suggesting that individual wellbeing contributes to societal prosperity. Enhancing mental health is viewed as crucial for improving overall economic growth and stability within the community.
From: Journal of Ayurveda and Integrated Medical Sciences
(1) Economic welfare is mentioned as something that can be enhanced by improving mental health, indicating a connection between individual wellbeing and the overall prosperity of society.[1]
The concept of Economic welfare in local and regional sources
Economic welfare is a comprehensive concept encompassing the prosperity and financial health of individuals and society, emphasizing improved conditions for disadvantaged groups, equitable wealth distribution, and overall quality of life for all community members.
From: Triveni Journal
(1) The Village Council is responsible for the economic welfare of the village, including the development of village industries and other measures to improve the income of the villagers.[2] (2) The well-being and financial stability of individuals and communities, achieved through organized efforts that aim for fair distribution of wealth and resources.[3] (3) The overall prosperity and economic health of the people, which kings of ancient times took care of.[4] (4) The overall well-being related to wealth and resources within a society, focusing on equitable access and quality of life.[5] (5) The state of financial well-being for individuals and families, and the collective aim of society to improve living standards and equitable wealth distribution.[6]
The concept of Economic welfare in scientific sources
Economic welfare encompasses the betterment of financial and social conditions for individuals and communities, driven by the adoption of healthy practices and the sustainable management of local resources. This promotes overall well-being and community resilience.
From: Sustainability Journal (MDPI)
(1) Security could also be determined from the point of view of human values, for example, physical safety, , independence, and psychological wellbeing.[7] (2) The text indicates that also, in the short term, the EGD framework may lead to reduced consumption, which could negatively impact economic welfare, shifting resources toward green investments can lower immediate consumption, thus undermining short-term economic welfare.[8] (3) Abatement or defensive expenditures related to air pollution are investments that should be deducted to arrive at the measure of economic welfare, as these expenditures address negative influences on capital due to pollution.[9] (4) A highly uncertain future can mean a drastic alteration in discount rates as people refocus their concern on “safer” assets likely to guarantee a future level of economic welfare.[10] (5) Economic welfare and the allocation of resources for invention were explored by Arrow in a Princeton University Press publication from 1962, focusing on resource distribution.[11]
From: International Journal of Environmental Research and Public Health (MDPI)
(1) It is the overall well-being and prosperity of a society, encompassing factors such as income, health, and environmental quality.[12] (2) Is the level of prosperity and well-being of individuals or a society, often measured by factors such as income, health, and education.[13] (3) Refers to the overall prosperity and well-being of a society, considering factors such as income, employment, and access to goods and services.[14] (4) The overall well-being of a society, often measured by factors such as income, health, and environmental quality.[15]
From: Onderstepoort Journal of Veterinary Research
(1) This concerns the overall well-being of communities, including their financial stability and prosperity, which is a goal of the One Health approach.[16] (2) Economic welfare is a key aspect that the One Health approach aims to safeguard for communities, working towards ensuring their financial well-being and opportunities for sustainable livelihoods.[17]
From: International Journal of Pharmacology
(1) It is part of an integrated analysis with human health and livestock health.[18]
From: Religions Journal (MDPI)
(1) With modernization, which has been shaped by the fundamental propositions of the philosophy of enlightenment, the West has achieved this on the one hand, through the industrial revolution, and on the other hand the democratic administrative structure which is present in the political arena.[19]