Intellectuals, unchecked by reality and common sense, can inflict genuine human damage. A lot of what people consider to be ‘common sense’ in economics is not really sense at all. And I suspect I’m going to see some of it in this article. If you replace welfare payments targeted at the needy with a generalised transfer to everyone, millions would receive state money unnecessarily This statement ignores the fact that the ‘needy’ who receive targeted welfare support are often being indirectly kept needy by the very conditionality of that support and the incentives that creates. The unconditional nature of […]
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