Click here to read. "If you were trying to design a good economic system from scratch, you probably would not make it so that people receive the lowest income of their lives during the time that they have the highest consumption needs and then receive the most income of their lives during the time that they have the lowest consumption needs. But this is exactly how the earnings lifecycle in capitalist economies works: young people who have to cover enormous amounts of child-related expenses get the lowest incomes while middle-aged people who have no such expenses get the highest incomes. Good welfare states fix this awful design by using taxes and welfare benefits to smooth out the difference between the two lifestages."
The Case for Family Welfare Benefits
The Case for Family Welfare Benefits
The Case for Family Welfare Benefits
Click here to read. "If you were trying to design a good economic system from scratch, you probably would not make it so that people receive the lowest income of their lives during the time that they have the highest consumption needs and then receive the most income of their lives during the time that they have the lowest consumption needs. But this is exactly how the earnings lifecycle in capitalist economies works: young people who have to cover enormous amounts of child-related expenses get the lowest incomes while middle-aged people who have no such expenses get the highest incomes. Good welfare states fix this awful design by using taxes and welfare benefits to smooth out the difference between the two lifestages."