Economists are split on whether the US welfare state can be regarded as an economic success or failure.
While some advocates of a strong welfare state like the US economist Milton Friedman argued that a strong system of social security could create a more prosperous economy, others argue that a stronger welfare state may cause social tension and undermine the country’s economic success.
With its long term welfare costs estimated at more than $4 trillion, the welfare state is seen as a key pillar of US economic success that has helped to secure US economic dominance in the world.
However, economists say the US system of government is currently underperforming, and that this is a result of two main factors.
Firstly, there is a high level of inequality, which is expected to increase as inequality in the US grows.
Secondly, there are many social problems that the US government is not addressing.
In this article, economists weigh in on whether there is evidence that a welfare state has succeeded or failed in alleviating poverty, the impact of unemployment, and the impact on the economy.
They also explore whether a strong social safety net has helped improve the quality of life in the country, and whether the country has benefited from its large social security and pension systems.
They discuss why a strong US social safety-net system may benefit the country and how that might change if the US is able to reform the system.