welfarism

Noun

welfarism (uncountable)

1. An axiology or ethical theory in which value is determined by the well-being (e.g., happiness) of people or other sentient beings.
   • More precisely, Kaplow and Shavell (2001) have shown that the Pareto principle does not hold when the planner departs from welfarism, i.e., when the [social welfare function] does not only include the agents’ utility.2025, François Le Grand, Xavier Ragot, Diego Rodrigues, “The Welfare of Nations: Social Preferences and the Macroeconomy”, in CEPR Discussion Papers, number 19847, page 13
2. (derogatory, rare) The belief in or support for a welfare state.
   • So, I think we have way too much compromise, and we need to define what we believe in. We either believe in welfarism and socialism and big government, or we believe in liberty and limited government and in the Constitution.2010 February 16, “Is Congress Broken?; Hamas Leader Assassinated; Interview With Bill Maher”, in CNN, spoken by Ron Paul, archived from the original on 21 Sep 2017