Poverty, Inequality, and the Role of Government: What Would Adam Smith Say?
AbstractThis paper uses Smith's views on the distribution of income and poverty to support the argument that Smith's advocacy of laissez-faire was limited and historically specific. It discusses the relevance of these views in providing philosophical underpinning for modern social policy. Examination of Smith's ideas using the frameworks of several modern theoretical constructs, including Rawlsian justice, interdependent utility functions, countervailing power, and the theory of the second best, helps to make this link between eighteenth century thought and twentieth century policy analysis.
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Bibliographic InfoArticle provided by Eastern Economic Association in its journal Eastern Economic Journal.
Volume (Year): 18 (1992)
Issue (Month): 2 (Spring)
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Find related papers by JEL classification:
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- I30 - Health, Education, and Welfare - - Welfare and Poverty - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hochman, Harold M & Rodgers, James D, 1969. "Pareto Optimal Redistribution," American Economic Review, American Economic Association, vol. 59(4), pages 542-57, Part I Se.
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