Abstract
This chapter highlights relationship between economics, welfare, and noise. Economic welfare is a new concept in the history of economic ideas. The material standard of living of the industrialized nations transcends the wildest dreams of a century ago, and is astronomically above that of the developing countries. When the material condition of life for the majority of people is low, and when poverty and disease handicap spiritual and personal aspirations, a society can perhaps find an excuse for ignoring for a long time the side effects of such progress. More aircraft movements, increased automobile output, and higher production from noisy factories all represent a rise in the index of economic welfare; but when they are accompanied by noise and other adverse externalities; the total effect on social welfare is equivocal. The failure of the second linkage, that is, between economic and social welfare, is essentially an allocative and distributive problem can be discussed under economic efficiency.
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