Welfare; Y. Brozen

The classical group did not neg lect the analysis of causes of This is (rom a paper which Professor Brozen of the Graduate School of Business, University of Chicago, delivered before the Mont Pelerin Society, Tokyo, Japan, September 9, 1966. 40 waste. They dealt with the welfare consequences of state intervention in international trade - the effects of the imposition of tariffs and of trade and navigation acts. They also pointed to the welfare conse quences of state intervention in the internal economy - interven tions such as the creation, by royal grant, of monopolies of soap, play ing cards, salt, and so forth. The fact that classical and neo classical economists thought prog gress possible - that the lot of man could be improved by enlarg ing resources and by better utiliz ing the available resources-makes economics an optimistic science. It was the discussion of Malthusian demographic propositions that led WITHOUT THE WELFARE to the characterization of econom ics as a dismal science.