Welfare States

Achievements and Threats

Peter H. Lindert (University of California, Davis)

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English

Cambridge University Press
03 January 2019

Welfare & benefit systems; Economic growth; Health economics; Welfare economics; Health systems & services

Series: Elements in Public Economics

Summary
Details

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.

By: Peter H. Lindert (University of California Davis)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 228mm, Width: 152mm, Spine: 5mm
Weight: 1.300kg
ISBN: 9781108464338
ISBN 10: 1108464335
Series: Elements in Public Economics
Pages: 75
Publication Date: 03 January 2019
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active