Welfare economics
Use of microeconomic techniques to evaluate well-being at the aggregate level
Follow Welfare economics on Notably News to receive short updates to your email — rarely!
We include updates on Gini coefficient, Social democracy, City quality of life indices, Third place, Quality of life, List of countries by home ownership rate, Mixed economy, Pareto efficiency, Competition law, Externality, Well-being, Post-war consensus, Poverty threshold, Leisure, Marginal utility, Deadweight loss ... and more.
| 2023 |
Value of life
Australian government officially valued a statistical life at AU$5.4 million and set the annual value at AU$235,000 for economic and policy-making purposes.
|
| 2023 |
Value of life
Department of Transportation further increased the value of a statistical life to $13.2 million.
|
| April 2023 |
Value of life
NZTA significantly increased the value of a statistical life to NZ$12.5 million in April.
|
| 2022 |
Value of life
Department of Transportation increased the value of a statistical life to $12.5 million.
|
| 2022 |
Value of life
Ministry of Health calculated the value of a statistical life at NZ$150,000 per year.
|
| July 2020 |
Value of life
Federal Emergency Management Agency (FEMA) estimated the value of a statistical life at $7.5 million.
|
| June 2019 |
Value of life
Ministry of Transport set the value of a statistical life at NZ$4.53 million in June.
|
| 2018 |
Working poor
In the UK, the working poor rate was 10%, with a median income of £507 per week.
|
| 2018 |
Working poor
The official poverty rate was 5.1%, while the Supplemental Poverty Measure showed a higher rate of 7.2%.
|
| 2018 |
Working poor
Poverty rates analysis revealed significant disparities in poverty levels among different family structures: married couples at 7.7%, cohabiting partners at 13.9%, individuals at 21.9%, single mothers at 25%, and single fathers at 15.1%.
|
| 2018 |
Working poor
US Census Bureau reported 38.1 million US citizens below the poverty line, representing 11.8% of the population, with 21.1 million people aged 18-64 in poverty, of which nearly half (5.1%) were working at least part-time.
|
| 2018 |
Patient-reported outcome
The organization starts using MedEngage services to collect Patient-Reported Outcomes (PROs) from thousands of epilepsy patients across Maharashtra through a zero-cost helpline.
|
| 2018 |
Patient-reported outcome
Introduction of the term 'Patient Reported Health Data' to encompass patient-reported information beyond outcomes, including comorbidities, medications, and hospitalizations.
|
| 2018 |
Value of life
A study using the hedonic wage approach estimated the Value of Statistical Life (VSL) for blue-collar male workers in manufacturing industries of Ahmedabad, Gujarat, India at 44.69 million INR (equivalent to $0.64 million).
|
| 2017 |
Working poor
6.9 million individuals were defined as working poor in the United States.
|
| 2016 |
Value of life
NZTA revised the value of a statistical life to NZ$4.14 million.
|
| August 2016 |
Value of life
Department of Transportation updated the value of a statistical life to $9.6 million.
|
| 2014 |
Value of life
Department of Transportation first estimated the value of a statistical life at $9.2 million.
|
| 2014 |
Value of life
Calculated an alternative VSL using the World Bank method adjusted to country-specific GDP, resulting in an estimated value of US$8.96 million (S$11.3 million).
|
| 2013 |
Value of life
The Treasury updated the value of a statistical life to NZ$3.85 million in New Zealand.
|
| 2011 |
Working poor
The US Census Bureau began publishing the Supplemental Poverty Measure (SPM), introducing a more comprehensive method of calculating poverty status.
|
| 2011 |
Patient-reported outcome
Epilepsy Foundation of India begins providing free diagnosis and treatment to people with epilepsy across rural Maharashtra.
|
| 2010 |
Value of life
Environmental Protection Agency (EPA) estimated the value of a statistical life at $9.1 million.
|
This contents of the box above is based on material from the Wikipedia articles Working poor, Patient-reported outcome & Value of life, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.