Psychology Dictionary of ArgumentsHome
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| Welfare state: In a welfare state the government takes responsibility for the well-being of its citizens through social programs. It provides services like healthcare, education, unemployment benefits, and social security, aiming to ensure a basic standard of living and address social inequalities. see also Healthcare system, Education, Inequalities._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Adam Smith on Welfare State - Dictionary of Arguments
Mause I 153 Welfare State/Adam Smith: That the price on the market is welfare maximizing is the subject of the famous theorem of the invisible hand by Adam Smith (1723-1790). If all market participants behave selfishly (rationally), according to Smith the market coordinates the individual partial interests towards the welfare maximum. >Markets, >Price, >Rationality, >Egoism. For the economic driving force here is not the "goodwill of the butcher, brewer and baker" (Smith [1776] 1978,(1)), but the respective self-interest of the market participants. Invisible Hand/Smith: The individual concerns of each one are guided across the market "by an invisible hand to promote a purpose which he has no intention whatsoever to fulfil". (2) 1, A. Smith Der Wohlstand der Nationen. München 1978, p. 17. 2. Ibid. p. 371._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSmith I Adam Smith The Theory of Moral Sentiments London 2010 EconSmithV I Vernon L. Smith Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009 Mause I Karsten Mause Christian Müller Klaus Schubert, Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018 |
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> Counter arguments against Smith
> Counter arguments in relation to Welfare State
