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Liberalism and social-welfare: a mismatch
Barry, Norman |
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| The author examines the downfalls of most current social welfare systems and how in particular the pension systems in most countries are cause for major concern. Various renowned liberalists are referenced to compare the approaches of ‘classical liberalism’ (where individuals are responsible for their own spending including health care, pensions and education) and modern ‘institutionalised liberalism’ (where taxpayers contribute to a government managed system for the same needs) while paying particular attention to the effect of ‘moral hazards’ that are created when no return is expected from beneficiaries of government assistance and therefore these social groups grow, leading to an increasing drain on the governmental resources to deal with the problem. The author proposes that early privatisation of social security systems as one method of improving the problem. |
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| Contributor: |
Free Market Center - http://www.fmc.org.yu |
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| Topic: |
Economy and Development |
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| Country: |
Serbia |
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| Document Type: |
Political Analyses and Commentaries |
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| Year: |
2000 |
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| Keywords: |
Healthcare, Pensions, Social Services, Tax Collection, Unempolyment |
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