Nicholas Barr - Economic Quotes

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First, the welfare state is not a subject apart, but fits naturally into the framework of economic analysis. Secondly, the theoretical arguments support the existence of the welfare state not only for well known equity reasons but also - and powerfully - in efficiency terms.

Nicholas Barr

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.

Nicholas Barr

A reduction in the liberty of the least well off cannot be justified even if it is to their economic advantage.

Nicholas Barr

It is the welfare state that has made capitalism, with all its attendant benefits of economic growth, politically feasible...

Nicholas Barr