Welfare Economics in Malaysia

Welfare economists probably play only a small part in influencing the economic welfare of the human race. The destination of man is in very large part beyond his control. The earth, was formed about a thousand million year ago. It took a very long time for the planet to cool down before continents, water and atmosphere started to appear on its surface. When the environment became conducive, the first life that appears was single cell organisms living in its vast ocean. It took a very long time for the organism to evolve into other more complex living things, before our first ancestor, the prehistoric man, started walking on earth’s surface about 500,000 years ago. With a larger forehead, our ancestors were able to develop language skills for communication and discovered new ideas and tools. Each discovery brought improvement to the welfare of our human race. The everyday activity of a modern man is indirectly the sum of the discoveries made by our forefathers. These discoveries which vastly improve society’s welfare usually are beyond the imagination of the earlier generations.