ECON 241 Lecture Notes - Lecture 2: Mira-Bhayandar Municipal Corporation
10 Dec 2017
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2:57 pm: goals, constraints + criteria, goals are vague, multiple, and conflicting, caused by tradeoffs and judgements, equity vs efficiency, extent of balance, macro efficiency, efficient fraction of gdp to totality of welfare state programs. Mb=mc of last $ on welfare state vs other spending. Impossible to do: what is a welfare state, health (6-12%, education (5-6%, retirement, ei. Income support: micro efficiency, within welfare state efficient division of resources across programs + institutions, often framed in terms of % gdp spent on each program area. like is same utility level but isn"t measurable so it needs a proxy: proxy is impossible here so standard is income. Individuals explain poverty among single elderly: dignity, promote dignity of beneficiaries, no stigmatization, social solidarity, overall welfare state should be structured to not create divisions among different groups (age, gender, race, etc. , administration costs. Lowest cost possible, transparent, and easy to understand: minimizing of abuse, designed to minimize fraud and abuse.
