Trabzon City Of Turkey for Physicists do have opinions about the morality of bomb making, but those opinions reflect their personal moral beliefs rather than their expertise as physicists. Likewise, economics tells us that quotas on imported goods will protect the jobs of people in industries that face import competition, but at the expense of consumers who pay higher prices for goods produced by the protected industries. Mainstream economics has nothing to say about which is better: to let some workers lose their jobs so that consumers can enjoy lower prices, or to make consumers pay more so that the workers can keep their jobs. Welfare economics attempts to answer such questions. Relying on the utilitarian view that policies should aim at producing the largest total quantity of happiness in society, welfare economics tries to determine which economic policies produce the largest total of human happiness. A typical application of welfare economics is to evaluate the distribution of income in society. The economic idea of marginal utility states that people who have many units of X tend to value an extra unit of X less than people who have only a few units of X. Trabzon City Of Turkey 2016.