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Markets, Governments, and the Institutional Structure of Social Welfare Expenditures in the United States and Sweden in the 20th Century

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  • Price V. Fishback

Abstract

Social welfare spending on health, welfare, and insurance against adverse outcomes expanded a great deal in all of the developed countries during the 20th century. The institutional structure of the spending varies with respect to the extent that governments or market institutions provide the services. Sweden and the United States are on opposite ends of this spectrum. After discussing the problems with adverse selection and moral hazard that bedevil private and public social welfare organizations, I compare the development of the social welfare institutions in the U.S. and Sweden in the 20th century.

Suggested Citation

  • Price V. Fishback, 2022. "Markets, Governments, and the Institutional Structure of Social Welfare Expenditures in the United States and Sweden in the 20th Century," NBER Working Papers 30066, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30066
    Note: DAE PE
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • N42 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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