First Published in 1924, The Relation of Wealth to Welfare examines certain definite and fundamental elements of human welfare and their relation to private income on the one hand and various kinds of collective action on the other.

First Published in 1924, The Relation of Wealth to Welfare examines certain definite and fundamental elements of human welfare and their relation to private income on the one hand and various kinds of collective action on the other. The four elements discussed in the book are health, art, work, and education. The author argues that the power of private income to increase the welfare of its possessor in regard to the various elements under examination is as a matter of fact frequently or even always comparatively small; whereas the power of collective action and public expenditure to do so is often comparatively great. This book is an essential read for students and researchers of political economy, political studies, and economics in general.