The era of political economy : the minimal state to the Welfare state in the twentieth century (по статье)
THE MAIN POINTS OF THE ARTICLE
In this part of the chapter the author talks about Great Depression and its impact on economics. Great Depression was the first truly international growth disaster. It originated in the USA and spread to the rest of the world.
Part three of the tenth Chapter has the name "Successes and failures of microeconomic management in the second half of the twentieth century: from full employment to inflation targeting".
The forth part of the text is called "Karl Mark's trap: the rise and the fall of the socialist economies in Europe".
This part of the article considers Karl Marx's theory. Karl Marx, the economist, philosopher and social critic developed a theory of history with a surprising lesson for the social economies, economic experiment that ultimately failed.
Part number five is titled "
Показать всеA market failure theory of the Welfare State".
This article refers to the general concept of the Welfare state. To begin with let's consider the definition of the notion "a welfare state".
In the strictest sense, a welfare state is a government that provides for the welfare, or the well-being, of its citizens completely. Such a government is involved in citizens’ lives at every level. It provides for physical, material, and social needs rather than the people providing for their own. The purpose of the welfare state is to create economic equality or to assure equitable standards of living for all.
The welfare state provides education, housing, sustenance, healthcare, pensions, unemployment insurance, sick leave or time off due to injury, supplemental income in some cases, and equal wages through price and wage controls. It also provides for public transportation, childcare, social amenities such as public parks and libraries, as well as many other goods and services. Some of these items are paid for via government insurance programs while others are paid for by taxes.
Then the author makes the conclusion of the chapter and gives recommendations for further reading.
Our analysis touches some points mentioned by the author, these are the notion "a welfare state", Great Depression and Karl Marx's theory.
THE MAIN POINTS OF THE ARTICLE
Most advanced nations are not true welfare states, although many provide at least some social services or entitlement programs. These goods and services are generally available only to certain people who meet eligibility requirements. However, those that meet the prerequisites are guaranteed -or entitled to- benefits as a right. This type of system is frequently referred to as a “safety net,” which is designed to help the most vulnerable.
In our opinion the welfare state is socialist in nature. It redistributes wealth by heavily taxing the middle and upper classes in order to provide goods and services for those seen as underprivileged. However, even countries that don’t typically subscribe to socialism offer at least some form of safety net, most of which continue to expand.
While some nations believe that creating a welfare state is the proper role of any central government, few have managed to create efficient systems. They are unable to provide equitably for all their citizens, often leaving those most in need with the least. Rationing of goods and services also becomes a major problem when too many people depend on the welfare state.
All advanced societies view helping people who literally cannot help themselves as decent, humane, and necessary. Yet, another serious issue with the welfare state philosophy is that many people who are capable of caring for themselves have no motivation to improve their lives when they can depend on the government to provide for them. This often breeds resentment amongst
Such a system can fuel class warfare and prevent equality instead of obtaining it. The concept of the welfare state may appear to be a good model on paper. However, the reality of creating a truly equitable state has thus far been impossible to achieve.
Further on the author talks about Great Depression and its impact on economics. Great Depression was the first truly international growth disaster. It originated in the USA and spread to the rest of the world. Скрыть
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