Unemployment Benefits, Taxation, and Allocation
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Please explain the following ideas:
1. When the government tries to cut the economic pie into more equal slices, the pie gets smaller
2. Thorough background checks must be done on individuals availing unemployment benefits
3. On the other hand, increasing the tax for gasoline will cause people to live closer to where they work
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Solution Summary
The solutions briefly describes issues on allocation (pie and slices), unemployment benefits, and tax on gasoline.
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1. "When the government tries to cut the economic pie into more equal slices, the pie gets smaller". This is a critique of the welfare system, as you cannot treat everyone in the economy in the same way. Those who are hard working and are contributing significantly to production must be rewarded accordingly. Those who contribute less must be given less. The 'welfare system' ensures that ...
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