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Yes, There Are Hayekian Welfare States (At Least in Theory)

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  • Andreas Bergh

Abstract

The neoclassical problem of distortionary taxation and the Hayekian knowledge problem are two different lines of argumentation against government interventions. When it applies, the Hayekian argument against government intervention is stronger than the neoclassical argument, because interventions can be designed to minimize distortions, but governments cannot escape the knowledge problem. A Hayekian welfare state would combine low levels of regulation with social insurance schemes that are not terribly vulnerable to the knowledge problem.

Suggested Citation

  • Andreas Bergh, 2015. "Yes, There Are Hayekian Welfare States (At Least in Theory)," Econ Journal Watch, Econ Journal Watch, vol. 12(1), pages 22-27, January.
    • Handle: RePEc:ejw:journl:v:12:y:2015:i:1:p:22-27
    as

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    References listed on IDEAS

    as
    1. Hayek, F. A., 1981. "Law, Legislation and Liberty, Volume 3," University of Chicago Press Economics Books, University of Chicago Press, number 9780226320908.
    2. Daniel B. Klein, 2015. "Economists on the Welfare State and the Regulatory State: Why Don't Any Argue in Favor of One and Against the Other? A Symposium Prologue," Econ Journal Watch, Econ Journal Watch, vol. 12(1), pages 2-14, January.
    3. Andreas Bergh, 2014. "Sweden and the Revival of the Capitalist Welfare State," Books, Edward Elgar Publishing, number 15717.
    4. repec:bla:scandj:v:86:y:1984:i:2:p:115-30 is not listed on IDEAS
    5. Cecil E. Bohanon & John B. Horowitz & James E. McClure, 2014. "Saying Too Little, Too Late: Public Finance Textbooks and the Excess Burdens of Taxation," Econ Journal Watch, Econ Journal Watch, vol. 11(3), pages 277-296, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Welfare state; regulatory state; regulation; redistribution; economists; Friedrich Hayek;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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