Podcast: The Welfare State, Markets and Social Insurance
In the latest podcast episode of Economics Detective Radio, out today, host Garrett Petersen and I discuss the connection between economic freedom and the welfare state. Far from being opposed, I argue that a generous welfare state should be seen as a natural complement to a dynamic, free market economy. It’s a discussion that builds off of Will Wilkinson’s essay on the “free market welfare state” in the New York Times from last year.
Our conversation is wide ranging, covering the limits of the “big” vs. “small government” ideological axis, the difference between insurance and charity, how to construct social insurance programs that are robust to large scale immigration, and much more.