Race to the bottom is a socio-economic phrase to describe either government deregulation of the business environment or reduction in corporate tax rates, in order to attract or retain economic activity in their jurisdictions. While this phenomenon can happen between countries as a result of globalization and free trade, it also can occur within individual countries between their sub-jurisdictions. It may occur when competition increases between geographic areas over a particular sector of trade and production. The effect and intent of these actions is to lower labor rates, cost of business, or other factors over which governments can exert control.
A welfare state is a form of government in which the state protects and promotes the economic and social well-being of its citizens, based upon the principles of equal opportunity, equitable distribution of wealth, and public responsibility for citizens unable to avail themselves of the minimal provisions for a good life.
Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
Social insurance is a form of social welfare that provides insurance against economic risks. The insurance may be provided publicly or through the subsidizing of private insurance. In contrast to other forms of social assistance, individuals' claims are partly dependent on their contributions, which can be considered insurance premiums to create a common fund out of which the individuals are then paid benefits in the future.
Aaron Wildavsky was an American political scientist known for his pioneering work in public policy, government budgeting, and risk management.
Social welfare, assistance for the ill or otherwise disabled and the old, has long been provided in Japan by both the government and private companies. Beginning in the 1920s, the Japanese government enacted a series of welfare programs, based mainly on European models, to provide medical care and financial support. During the post-war period, a comprehensive system of social security was gradually established.
National health insurance (NHI), sometimes called statutory health insurance (SHI), is a system of health insurance that insures a national population against the costs of health care. It may be administered by the public sector, the private sector, or a combination of both. Funding mechanisms vary with the particular program and country. National or statutory health insurance does not equate to government-run or government-financed health care, but is usually established by national legislation. In some countries, such as Australia's Medicare system, the UK's National Health Service and South Korea's National Health Insurance Service, contributions to the system are made via general taxation and therefore are not optional even though use of the health system it finances is. In practice, most people paying for NHI will join it. Where an NHI involves a choice of multiple insurance funds, the rates of contributions may vary and the person has to choose which insurance fund to belong to.
Historical institutionalism (HI) is a new institutionalist social science approach that emphasizes how timing, sequences and path dependence affect institutions, and shape social, political, economic behavior and change. Unlike functionalist theories and some rational choice approaches, historical institutionalism tends to emphasize that many outcomes are possible, small events and flukes can have large consequences, actions are hard to reverse once they take place, and that outcomes may be inefficient. A critical juncture may set in motion events that are hard to reverse, because of issues related to path dependency. Historical institutionalists tend to focus on history to understand why specific events happen.
Laurence Jacob Kotlikoff is a professor of economics at Boston University, a William Warren Fairfield Professor at Boston University, a Fellow of the American Academy of Arts and Sciences, a Research Associate of the National Bureau of Economic Research, a Fellow of the Econometric Society, and a former Senior Economist on the President's Council of Economic Advisers.
Paul Elliot Starr is a professor of sociology and public affairs at Princeton University. He is also the co-editor and co-founder of The American Prospect, a notable liberal magazine created in 1990. In 1994, he founded the Electronic Policy Network, or Moving Ideas, an online public policy resource. In 1993, Starr was the senior advisor for President Bill Clinton's proposed health care reform plan. He is also the president of the Sandra Starr Foundation.
Paul Pierson is an American professor of political science specializing in comparative politics and holder of the John Gross Endowed Chair of Political Science at the University of California, Berkeley. From 2007-2010 he served at UC Berkeley as Chair of the Department of Political Science. He is noted for his research on comparative public policy and political economy, the welfare state, and American political development. His works on the welfare state and historical institutionalism have been characterized as influential.
Social inequality occurs when resources in a given society are distributed unevenly, typically through norms of allocation, that engender specific patterns along lines of socially defined categories of persons. It poses and creates a gender gap between individuals that limits the accessibility that women have within society. The differentiation preference of access to social goods in the society is brought about by power, religion, kinship, prestige, race, ethnicity, gender, age, sexual orientation, and class. Social inequality usually implies the lack of equality of outcome, but may alternatively be conceptualized in terms of the lack of equality in access to opportunity. This accompanies the way that inequality is presented throughout social economies and the rights that are skilled within this basis. The social rights include labor market, the source of income, health care, and freedom of speech, education, political representation, and participation.
The United States spends approximately $2.3 trillion on federal and state social programs include cash assistance, health insurance, food assistance, housing subsidies, energy and utilities subsidies, and education and childcare assistance. Similar benefits are sometimes provided by the private sector either through policy mandates or on a voluntary basis. Employer-sponsored health insurance is an example of this.
The history of health care reform in the United States has spanned many decades with health care reform having been the subject of political debate since the early part of the 20th century. Recent reforms remain an active political issue. Alternative reform proposals were offered by both of the major candidates in the 2008, 2016, and 2020 presidential elections.
The RAND Corporation is an American nonprofit global policy think tank, research institute, and public sector consulting firm. RAND Corporation engages in research and development (R&D) across multiple fields and industries. Since the 1950s, RAND research has helped inform United States policy decisions on a wide variety of issues, including the space race, the Vietnam War, the U.S.-Soviet nuclear arms confrontation, the creation of the Great Society social welfare programs, and national health care.
Tax expenditures are government revenue losses from tax exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates. They are a counterpart to direct expenditures, in that they both are forms of government spending.
Oona Anne Hathaway is an American professor and lawyer. She is the founder and director of the Center for Global Legal Challenges at Yale Law School. She is also a professor of international and area studies at the MacMillan Center for International and Area Studies and a faculty member at the Jackson School of Global Affairs.
Lawrence R. Jacobs is an American political scientist and founder and director of the Center for the Study of Politics and Governance (CSPG) at the University of Minnesota. He was appointed the Walter F. and Joan Mondale Chair for Political Studies at the University of Minnesota's Humphrey School of Public Affairs in 2005 and holds the McKnight Presidential Chair. Jacobs has written or edited, alone or collaboratively, 17 books and over 100 scholarly articles in addition to numerous reports and media essays on American democracy, national and Minnesota elections, political communications, health care reform, and economic inequality. His latest book is Democracy Under Fire: Donald Trump and the Breaking of American History. In 2020, he was elected a Fellow of the American Academy of Arts and Sciences.
The "visible hand" is an economic concept describes the replacement of the regulatory function of the market mechanism by government intervention. Simply put, it refers to government intervention.
Kenneth Frederick Scheve Jr. is an American political economist.
