Evolution of “welfare” concept and modern approaches to determination of it’s components

Anastasiia Pinchuk


The article analyzes and systematizes the scientific views of economists of the classical and neoclassical periods on the definition of welfare and the factors that affect it, the marginalist approach and the classics of modern economic thought in the welfare of the population. The generalization of views of scientists of different periods on the concept of determining welfare at different times, the change of focus in the study of welfare - from social to individual, which changed with the evolution of the place and role of man in economics - from resource material, the subject of labor supply, to agent of innovative thought and change factor. Based on the systematization of materials and generalizations, the author's scheme of evolution of the concept of well-being in the development of economic thought is constructed, which reflects the main periods of economic thought from XVIII to XXI century and the main defining ideas of each period, which influenced the specifics of understanding the well-being of each period.A number of modern approaches to determining the welfare of people in different countries, including representatives of Ukrainian economic thought, special attention is paid to the transition from purely material factors of welfare to socio-environmental and educational and medical criteria for society. It is emphasized that even at the present stage of the study the list of human well-being factors is far from exhaustive, as it often does not include psychological, emotional and spiritual aspects of human well-being. An author's schematic three-level approach to the most relevant modern definition of human well-being components has been developed and proposed, which includes: basic or material level of well-being, average or psychological-emotional level, and higher or spiritual level. It is emphasized that the satisfaction from useless charitable deeds, or the ability to realize their individual abilities can many times exceed, quantitatively and qualitatively, the satisfaction obtained from the possession or use of material goods, provided that the person is not below poverty and has no other serious threats to its existence.


welfare factors; economic development; level of living; quality of living; well-being index; alternative indexes of welfare

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DOI: http://dx.doi.org/10.35774/econa2021.02.044

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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