Welfare economics, welfare state and the real economy

Olier Eduardo

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Welfare economics, welfare state and the real economy

机译：福利经济学，福利国家与实体经济

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Welfare economics, although a fundamental branch of the economy, is not present in the discussions of today's economists who are dealing with the political economy. They are mainly focusing their attention on, for instance, statistics and other economic issues like GDP growth or fiscal policies. Welfare economics is presented here, including the ethical dilemma of the economy, as a critical topic to be examined. After discussing the social and private costs in the framework of welfare economics, this paper focuses on the modern welfare state and its connection to the real economy. The problem of the social cost as discussed by Arthur Pigou and Ronald Coase is also described. Two new corollaries to the Coase theorem are presented and described in light of the heavy public debt burdened by advanced economies. It is also demonstrated that public debt is not due to the costs of the state of modern welfare, which in the framework of this paper, is described in accordance with four major economic pillars: health, unemployment, pensions and education. Demography, on the one hand, and income inequality on the other, are discussed as being two critical elements both in macro and microeconomics, which are also supposed to change many of the traditional businesses such as banking and finance, healthcare and retail distribution.

机译：福利经济学虽然是经济的基本组成部分，但在当今与政治经济学打交道的经济学家的讨论中却没有出现。他们主要将注意力集中在统计和其他经济问题上，例如GDP增长或财政政策。这里介绍福利经济学，包括经济的伦理困境，作为要研究的重要课题。在讨论了福利经济学框架下的社会和私人成本之后，本文着重研究了现代福利国家及其与实体经济的联系。还描述了Arthur Pigou和Ronald Coase讨论的社会成本问题。鉴于先进经济体背负的沉重的公共债务，提出和描述了科斯定理的两个新推论。还证明了公共债务不是由于现代福利状况造成的，在本文的框架内，它是根据四个主要经济支柱来描述的：健康，失业，退休金和教育。一方面，人口统计学，另一方面是收入不平等，被认为是宏观和微观经济学中的两个关键要素，它们也应该改变许多传统业务，例如银行和金融，医疗保健和零售分销。

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《AESTIMATIO: the IEB International Journal of Finance》 |2014年第8期|共24页
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Olier Eduardo;
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Welfare economics, welfare state and the real economy

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