2 ms·
"welfare" [1] is generally a distinct concept from "public goods" [2] Welfare is typically ment to mean policies to alleviate the hardships of poverty. These c
by s1artibartfast 2y ago
"welfare" [1] is generally a distinct concept from "public goods" [2]
Welfare is typically ment to mean policies to alleviate the hardships of poverty. These can be wealth transfers or socialized insurance policies to reduce the variability of outcomes.
Public goods are services like roads, courts, or firemen.
https://en.wikipedia.org/wiki/Welfare https://en.wikipedia.org/wiki/Welfare
https://en.wikipedia.org/wiki/Public_good_(economics) https://en.wikipedia.org/wiki/Public_good_(economics)
- anon291 2y agoIn that case, neither Social Security and Medicare are welfare. Social Security is given to everyone regardless of income; so is Medicare.
- s1artibartfast 2y agoBoth are tools where the point is to prevent poverty. Compulsory and universal participation are the methods used to achieve this goal.