Context_1 : Uneconomic growth, in human development theory, welfare economics (the economics of social welfare), and some forms of ecological economics, is economic growth that reflects or creates a decline in the quality of life. The concept is attributed to leading ecological economist and steady-state theorist Herman Daly, though other theorists can also be credited for the incipient idea. Note Uneconomic growth (or uneconomic degrowth) should not be confused with economic degrowth, the reduction of the size of the economy to increase well-being and sustainability. Context_2 : A free textbook is a textbook that can be read, used, copied, modified and redistributed without any restrictions. The word "free" in the term "free textbook" refers to freedom (liberty) and is not related to monetary cost. A free textbook is released under a free license that ensures that people will have the freedom to read, use, copy, modify, and redistribute the textbook. The notion of a free textbook derives from a more general notion called Free Cultural Work that was inspired from the definition of Free Software. Context_3 : In welfare economics, a social planner is a decision-maker who attempts to achieve the best result for all parties involved. In neo-classical welfare economics, this means the maximization of a social welfare function. In modern welfare economics, there is a greater emphasis on Pareto optimality, in which no one's economic status can be improved without worsening someone else's. Pareto-optimal solutions are not unique, and according to the Second Fundamental Theorem of Welfare Economics, a social planner can achieve any Pareto-optimal outcome by an appropriate redistribution of wealth by means of competitive market. Context_4 : Alfred Marshall (26 July 1842 – 13 July 1924) was one of the most influential economists of his time. His book, "Principles of Economics" (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. Although Marshall took economics to a more mathematically rigorous level, he did not want mathematics to overshadow economics and thus make economics irrelevant to the layman. Context_5 : The "welfare definition" of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. This definition expands the field of economic science to a larger study of humanity. Specifically, Marshall's view is that economics studies all the actions that people take in order to achieve economic welfare. In the words of Marshall, "man earns money to get material welfare." This is why economists since Marshall have described his definition as the "welfare definition" of economics. This definition enlarged the scope of economic science by emphasizing the study of wealth and humanity together, rather than wealth alone. Context_6 : Stephen T. Worland (February 19, 1923 – July 29, 2017) was an American economist and professor at the University of Notre Dame. Worland's specialties included the history of economic thought, social economics, and welfare economics. Worland is the author of the book "Scholasticism and Welfare Economics", published by the University of Notre Dame Press in 1967. He also authored the "Economics and Justice" chapter in the book "Justice: Views from the Social Sciences", edited by Ronald L. Cohen and published by Springer in 1986. Context_7 : The concertina model, sometimes referred to as the concertina rule or "concertina method", is an international trade liberalisation strategy, which consists in removing the highest tariffs first. Amiti (2004, p. 3) traces this "idea back to Meade (1955, Trade and Welfare) who concluded that the welfare gains will be larger if tariffs on those goods with the highest tariffs are reduced first. This result was formalized by a number of authors, including Bertrand and Vanek (1971) and Falvey (1988) for a small, open, perfectly competitive economy." The concertina method consists in a piecemeal approach to trade reforms, however, with a clear quantitative priority setting. The concertina model is also highlighted briefly in Dani Rodrik's book One Economics, Many Recipes and Max Corden's textbook "Trade Policy and Economic Welfare". Haussmann, Rodrik and Velasco (HRV)(Growth Diagnostics, 2004) refer to the concertina method as a simple trade and more specifically, tariff reform, second best strategy. The concertina method is a general rule of thumb, which consists in eliminating the highest tariffs first, and so on, until ideally all tariffs are eliminated. "HRV" see 5 possible reform strategies: 1. Wholesale reform ("augmented Washington Consensus": getting prices and institutions right) 2. Do as much and as best as you can (opportunistic approach, e.g. picking low "hanging fruits", etc.) 3. Sophisticated second-best reform (many trade offs)4. Target the largest distortions ("concertina rule") and 5. Focus on the most binding constraints. Targeting the largest distortions first in the overall economic reform agenda is not very practical as many important distortions (e.g. with respect to institutions) cannot be easily quantified, hence a deeper qualitative analysis is needed. Focussing on the binding constrainst is seen by these "HRV" as the best practical reform agenda. It is superior to the "concertina rule" and also to the so-called "augmented Washington Consensus" which is an impossibly broad and ambitious reform agenda that is insufficiently differentiated according to the needs of different countries. The Concertina policy approach can be seen as a simple rule of thumb approach for an easy quantifiable problem. Reforming implies planning. However planning has clear limits due to limits to rationality ("bounded rationality" see Simon (1957) and Lindblom (1979)). The HRV approach again is an approach based on rationality. Human interactions often defy a clear rationality or rationality changes with respect to the number of peoples or interest groups involved (see Olson, Mancur's Logic of Collective Action). Context_8 : Benjamin A. Rogge (June 18, 1920 – November 17, 1980) was an American economist, college administrator, and libertarian writer, speaker and foundation advisor. Rogge received an A.B. degree from Hastings College and an M.A. from the University of Nebraska Lincoln. Rogge received his PhD in economics from Northwestern. At Wabash College, Rogge taught in the summer Institute for Professional Development, in addition to his usual teaching in economics. Rogge co-authored an economics principles textbook with John Van Sickle. One strength of the text is the account that it gives of Joseph Schumpeter's process of creative destruction. Rogge helped organize a series of lectures by Milton Friedman at Wabash that were eventually developed into Friedman's "Capitalism and Freedom" book. Much later, Rogge participated in a brainstorming session for Friedman's Free to Choose television series. Liberty Fund was founded with money from Pierre Goodrich, who sought advice from Rogge during the Fund's early years. Rogge served for many years as a Liberty Fund trustee. Thomas Sowell gives Rogge credit for encouraging him to write a book on economics and race. Rogge also was a frequent presenter at the seminars of the Foundation for Economic Education (FEE). FEE's founder, Leonard Read, thought of Rogge as Read's eventual successor, an outcome prevented by Read outliving Rogge. An extended (but somewhat grainy) video clip of a Rogge FEE lecture on "Competition and Monopoly" on YouTube illustrates the dry wit that made him a popular speaker. Rogge attended 13 meetings of the influential international Mont Pelerin Society. Rogge helped produce, and narrated, a documentary on Adam Smith that was funded by Liberty Fund. Rogge wrote the introduction to a collection of quotations from Adam Smith. A collection of Rogge's speeches, often on topics in economics or education, was published under the title "Can Capitalism Survive?" Wabash College, where he taught for many years, established a speaker series in his honor. Rogge's archives are mainly housed at the Hoover Institute on the campus of Stanford University. A posthumous collection of Rogge's speeches and essays has appeared under the title "A Maverick's Defense of Freedom". Context_9 : Julie A. Nelson (born 1956) is an American feminist economist and Professor of Economics at the University of Massachusetts Boston, most known for her application of feminist theory to questions of the definition of the discipline of economics, and its models and methodology. Nelson received her Ph.D. degree in Economics from the University of Wisconsin–Madison. Her work focuses on gender and economics, philosophy and methodology of economics, ecological economics, and quantitative methods. Nelson is among the founders and the most highly cited scholars in the field of feminist economics. Context_10 : Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level. A typical methodology begins with the derivation (or assumption) of a social welfare function, which can then be used to rank economically feasible allocations of resources in terms of the social welfare they entail. Such functions typically include measures of economic efficiency and equity, though more recent attempts to quantify social welfare have included a broader range of measures including economic freedom (as in the capability approach). fact_1 : The "welfare definition" of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. fact_2 : Alfred Marshall (26 July 1842 – 13 July 1924) was one of the most influential economists of his time. fact_3 :  His book, "Principles of Economics" (1890), was the dominant economic textbook in England for many years. Question: What textbook was written by the economist who created the "welfare definition" of economics?
Principles of Economics