SOCIAL WELFARE: INSIGHTS FROM THE AUSTRIAN SCHOOL OF ECONOMICS

Stanislav Percic ()
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Stanislav Percic: "Alexandru Ioan Cuza" University of Iasi, Faculty of Economics and Business Administration, 22, Carol 1 Ave., Iasi, 700505

Review of Economic and Business Studies, 2013, issue 12, 11-17

Abstract: When looking back in the last decades, one can notice the assertion of the state as the main provider of the social welfare. The state proclaimed itself as the “welfare state” and assumed all the responsibilities for ensuring the welfare of its society. The economic and social situation (stressed and unstable in current times), combined with limited resource availability and aggressive state policies, have once again highlighted the importance of understanding the meaning of social welfare. This study aims at emphasizing some important aspects regarding social welfare in light of the Austrian School of Economics perspective. We dare to think outside the box and propose this theoretical foray as a cornerstone for rethinking the meaning of social welfare and the role of the state in ensuring the welfare for its members within the society.

Keywords: state; human action; social welfare; entrepreneurship (search for similar items in EconPapers)
JEL-codes: B13 B25 I30 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aic:revebs:y:2013:i:12:percics

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