Wednesday, February 5, 2014

Paul Krugman on The Economics of The Welfare State

By Paul Krugman
Social expenditure comprises cash benefits, direct in kind provision of goods and services, and tax breaks with social purposes. Benefits may be targeted at low Income households, the elderly, disabled, sick, unemployed, or young persons. To be considered “social”, programmes have to involve either redistribution of resources across households or compulsory participation.
See rest here.

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