Welfare

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1.

Statutory procedures or social effort designed to promote the basic physical and material well-being of people in need.


2.

The cost of providing such procedures and efforts, especially the cost to central governments.


3.

More generally, the health, happiness, and fortunes of individuals, groups or sectors of the economy.


Examples

'Macroprudential regulation means regulation for the welfare of the financial system as a whole, rather than individual financial institutions alone.'

The Treasurer's Wiki - Macroprudential


'[The Bank of Canada's] principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada”.'

The Treasurer's Wiki - Canada


See also