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Americans use welfare as shorthand for government handouts to the poor. Economists use it to describe the well being of an individual or society, as in “Are tax cuts welfare-enhancing?”. This is economist-speak for “Will tax cuts improve the overall well being of the country?” (See utility. )

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Ordklasse: noun
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Blossary:
Fagområde/Domene Economy
Category: Economics
Company: The Economist
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