Discussion
The proponent of 'Welfare Economics' theory is .......................
Answer: B
Among the options, the proponent of welfare economics is Amartya Sen.
Welfare economics studies how economic arrangements affect social well-being. A.C. Pigou founded the field with The Economics of Welfare (1920), but he is not offered. Amartya Sen received the 1998 Nobel Prize in Economics for his contributions to welfare economics, including social choice theory, poverty measurement and the capability approach.
Mahbub ul Haq ('Mahboob Huq' in the paper) devised the Human Development Index, Karl Marx analysed capitalism and class, and Gunnar Myrdal is known for Asian Drama; none is the leading welfare economist among the options.
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