By Randall J. Strossen, Ph.D. It's no lie that the guts of a gym, for us, is a barbell, a set of squat racks, and a lifting platform. And while most people who lift weights are no strangers to the first two, unless you snatch and clean and jerk, you probably don't have a clear idea about how to build a good lifting platform.
Corporate welfare. Corporate welfare is a term that analogizes corporate subsidies to welfare payments for the poor. The term is often used to describe a government's bestowal of money grants, tax breaks, or other special favorable treatment for corporations.
DEFINITION of 'Welfare Economics'. A branch of economics that focuses on the optimal allocation of resources and goods and how this affects social welfare. Welfare economics analyzes the total good or welfare that is achieve at a current state as well as how it is distributed. This relates to the study of income distribution and how it affects the common good. Welfare economics is a subjective study that may assign units of welfare or utility in order to create models that measure the improvements to individuals based on their personal scales.