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WELFARE HARMS ITS OSTENSIBLE BENEFICIARIES

WELFARE HARMS ITS OSTENSIBLE BENEFICIARIES 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 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

WELFARE HARMS ITS OSTENSIBLE BENEFICIARIES

Economics, Management, and Financial Markets , Volume 12 (3): 13 – Jan 1, 2017

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

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

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2017

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