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Welfare is an essential aspect for the development of a nation. This book presents, for the first time, an extensive, internationally-focused collection of cutting-edge work from leading academics. Its multi-disciplinary approach and relative viewpoint encourages an examination of the most pressing social welfare issues of the day. The book intends to simplify some of the doubts regarding social welfare, and talks about the pros and cons of privatization. It presents a variety of social welfare paradoxes and innovations; and sets up a clear set of economic frameworks with which to comprehend the conditions under which the change in social welfare can be obtained.