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Social Welfare: Insights From The Austrian School Of Economics


  • Stanislav PERCIC

    () ("Alexandru Ioan Cuza" University of Iasi, Faculty of Economics and Business Administration, 22, Carol 1 Ave., Iasi, 700505)


When looking back in the last decades, one can notice the assertion of the state as the main provider of the social welfare. The state proclaimed itself as the “welfare state” and assumed all the responsibilities for ensuring the welfare of its society. The economic and social situation (stressed and unstable in current times), combined with limited resource availability and aggressive state policies, have once again highlighted the importance of understanding the meaning of social welfare. This study aims at emphasizing some important aspects regarding social welfare in light of the Austrian School of Economics perspective. We dare to think outside the box and propose this theoretical foray as a cornerstone for rethinking the meaning of social welfare and the role of the state in ensuring the welfare for its members within the society.

Suggested Citation

  • Stanislav PERCIC, 2013. "Social Welfare: Insights From The Austrian School Of Economics," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 12, pages 11-17, June.
  • Handle: RePEc:aic:revebs:y:2013:i:12:percics

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    More about this item


    state; human action; social welfare; entrepreneurship;

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School


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