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The welfare program is a highly contentious issue in political economy. Proponents claim it is the last best hope for the poor; a safety net, ensuring their economic welfare has a built-in floor supporting it. Opponents maintain it saps initiative, reduces incentives and is a snare and a delusion for the poor, who are, paradoxically, harmed by it. The present paper defends the latter position. The method we pursue in this paper is to examine the welfare system not merely in terms of its short run and superficial benefits: putting more money at the disposal of the poor. We also consider its long-term and very deleterious effects. Our major finding is expressed in the title of this paper: “Welfare Harms Its Ostensible Beneficiaries.” This system has not broken up the families of the poor, and the black community. Rather, it has prevented it from forming in the first place. JEL codes: I3 Keywords: welfare; poverty; incentives; economic freedom; safety net
Economics, Management, and Financial Markets – Addleton Academic Publishers
Published: Jan 1, 2017
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