Friday, February 18, 2005

Work and Thrift vs. Redistribution and Paternalism

Arnold Kling has a very good article about how those who beleive in Work and Thrift would approach education, health care, and retirement, in contrast to those who beleive in Redistribution and Paternalism. This is all in the context that in 1875, food/clothing/shelter accounted for 74 percent of total consumption (including leisure) while in 1995, they accounted for just 13 percent of total consumption. These days our neccessities are taken care of, our spending goes to education, healthcare, and retirement.

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