Unhelpful Abstractions and the Standard View

Cass Sunstein

Econ Journal Watch, 2015, vol. 12, issue 1, 68-71

Abstract: It is not fruitful to puzzle over the question whether economists and others ‘favor’ or ‘lean’ toward the regulatory or welfare state; that is an unhelpful and confusing question, one that orients people in the wrong way. It is better to begin by emphasizing that the first should be designed to handle market failures, and that the second should be designed to respond to economic deprivation and unjustified inequality.

Keywords: Welfare state; regulatory state; regulation; redistribution; economists (search for similar items in EconPapers)
JEL-codes: A13 A14 (search for similar items in EconPapers)
Date: 2015
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