Public insurance and the least well-off | Lane Kenworthy - 6 views
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Public insurance also boosts the living standards of the poor. It increases their income, and it provides them with services for which they bear relatively little of the cost.
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Critics charge that public social programs tend to hurt the poor in the long run by reducing employment and economic growth. Are they correct?
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Does public insurance erode self-reliance? Is a large private safety net as helpful to the least well-off as a large public one? Are universal programs more effective than targeted ones? Are income transfers the key, or are services important too?
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Through this article I have gained a deeper insight in how public expenditures and public goods promote wealth equality in a society. "Public services are an important antipoverty tool."
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Cool theory in regards to "the tipping point". Interesting, and solid criticism of large social expenditures. Wonder how socialists view this, as opposed to free-market economists.
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"Public services are an important antipoverty tool. Their benefit doesn't show up in income data, but they appear to play a key role in reducing material hardship." INteresting to see the statistics and how social expenditures help reduce poverty and the wealth gap.