Departamento de Hacienda y Economía

Ekonomiaz, Basque Economics Journal  
Biannual international review published since 1985 by the Basque Government for economic analysis and debate, with special attention to themes which affect the Basque Economy. ISSN-0213-3865 / / E-ISSN 2340-4051

101.I/2022: Inclusive growth and social welfare

In modern, democratic systems the main reason why governments implement certain policies is to improve the welfare of their citizens. Welfare is a complex, multi-faceted concept, so to provide guidelines for public policy in regard to which facets should be prioritised, most analyses choose to measure it indirectly, seeking to determine what is needed for people to live well, and then to assess how each society provides its members with the possibility of living a satisfactory life given those key needs. This monographic issue discusses the difficulties of measuring economic and social welfare in developed societies and presents various methodological options for measuring key facets of welfare, such as environmental sustainability and inequalities between persons. It also discusses the changing relationship between economic growth, distribution of wealth and social welfare, looking first at macroeconomic relations, then examining in depth the roles of productivity and wage and income inequalities in general, and finally addressing the growing weight of increasingly inequitable wealth based on accumulation in the past few decades.