CPE Notes 02-13-08

CPE Notes 02-13-08 - CPE NOTES FEB. 13 2008 Starting in the...

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CPE NOTES FEB. 13 2008 Starting in the 1920's there was a train of thought that capitalist systems needed to be reenforced with safety nets (Welfare system). After WW2 people said that if the market economy was going to survive a welfare system was needed. Welfare systems are composed of three components: Social insurance, Public Services, and Residual Aid Social insurance is amassed through the collection of taxes from people in the society and is given to people who need that insurance. Social Security is a perfect example of this. Social insurance involves "Transfers" which is taking income from the general population and transferring it to people who collect the insurance. Public Services are publicly funded goods and services like universities, libraries, and police forces. Public services are used for the benefit of the people and also create job opportunities. Residual aid is used to give assistance to the especially needy. Residual aid goes to a select group of people. Residual aid would be something like
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CPE Notes 02-13-08 - CPE NOTES FEB. 13 2008 Starting in the...

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