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Vol. 64, No. 1, pp. 76-93 (2013)

“Welfare Economics and the Welfare State in the Formative Age —Economic Progress and Welfare in Marshall's Economic Thought—”
Tamotsu Nishizawa (Institute of Economic Research, Hitotsubashi University)

This paper examines Marshall's ideas on economic progress and welfare, human development, so as to make clear an aspect of ‘welfare economics and the welfare state in the formative age’. There were pluralistic ways of thinking on welfare and well-being in this formative age. While Marshall generated some analytical tools for welfare economics, poverty, economic progress and human development permeated his writings. The paper tries to shed light on his non- consequential thinking about wealth and life, and on his ideas on work and life, quality of life. The paper also makes suggestions about the market and state, focusing on his ideas about the welfare society.