Insurance, Redistribution and the Welfare State: Economic Theory and International Comparisons

Roberto Artoni and Alessandra Casarico

Chapter 4 in Institutions for Social Well-Being, 2008, pp 95-125 from Palgrave Macmillan

Abstract: Abstract In this chapter we reconsider the role of the welfare state in modern market economies. After defining the welfare state, and distinguishing between its insurance and redistributive functions (sections 4.2 and 4.3), we tackle the issue first by studying the relationship between the welfare state and economic theory, doing so by analysing how the economic literature has investigated the role and justifications for the welfare state. We address three specific themes: the economic environment in which the institutions of the welfare state are embedded; the impact that they have on savings; and the effects that they generally produce on incentives (section 4.4 and subsections).

Keywords: Social Security; Welfare State; American Economic Review; Pension System; Social Protection (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58435-8_5

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DOI: 10.1057/9780230584358_5

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