Welfare States

Achievements and Threats

By:

Peter H Lindert

Format:

Paperback / softback

Series:

Elements in Public Economics

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Description

The traditionally, and wrongly, imagined vulnerabilities of the welfare state are economic. The true threats are demographic and political. The most frequently imagined threat is that the welfare state package reduces the level and growth of GDP. It does not, according to broad historical patterns and non-experimental panel econometrics. Large-budget welfare states achieve a host of social improvements without any clear loss of GDP. This Element elaborates on how this 'free lunch' is gained in practice. Other threats to the welfare state are more real, however. One is the rise of anti-immigrant backlash. If combined with heavy refugee inflows, this could destroy future public support for universalist welfare state programs, even though they seem to remain economically sound. The other is that population aging poses a serious problem for financing old age. Pension deficits threaten to crowd out more productive social spending. Only a few countries have faced this issue well.

Release date NZ

January 3rd, 2019

Author

Peter H Lindert

Audience

Professional & Vocational

Illustrations

Worked examples or Exercises; 3 Tables, black and white; 4 Plates, color; 3 Halftones, black and white

Pages

Series

Elements in Public Economics

Dimensions

152x228x5

ISBN-13

9781108464338

Product ID

28548204

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