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Trade-Offs in Public Finance: Comparing the Well-Being of Big Spenders and Lean Spenders
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Trade-Offs in Public Finance: Comparing the Well-Being of Big Spenders and Lean Spenders
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Journal Article
Trade-Offs in Public Finance: Comparing the Well-Being of Big Spenders and Lean Spenders
2006
Overview
Drawing on research analyzing similarities and differences among 19 rich democracies, this article compares the economic performance of big spenders and lean spenders at a similar economic level from 1950 to the late 1990s. Going beyond aggregate public spending, it shows the contrasting effects of particular types of spending and taxing and particular social policies. I highlight the extraordinary continuity of the contrasting institutions and policy directions of these countries. I find that there is not one road to good economic performance, but several. I specify five types of political economy, each with its own costs and gains in people's well-being, both economic and noneconomic. A final summary compares extremes: the confrontational \"low road\" pursued by the USA and the \"high road\" pursued by the strongest consensual democracies of Continental Europe, where social partners have negotiated real reforms in expensive social policies while preserving social cohesion. /// Réfléchissant sur les recherches qui analysent les similitudes et différences de 19 riches démocraties, cet article compare la performance économique des États très dépensiers et faiblement dépensiers dans le même secteur économique, de 1950 à la fin des années 1990. Allant au-delà des dépenses publiques globales, il montre les effets contrastés de types particuliers de dépense et d'impôt, et de politiques sociales spécifiques. Je mets en évidence la continuité extraordinaire des diverses institutions et orientations politiques de ces pays. Je constate qu'il n'y a pas une voie de la bonne performance économique, mais plusieurs. J'indique cinq types d'économie politique, aux coûts et gains propres au regard du bien-être des personnes, tant au plan économique que non économique. Un résumé final compare des extrêmes: la \"voie basse\" conflictuelle poursuivie par les États-Unis et la \"voie haute\" poursuivie par les plus fortes démocraties consensuelles d'Europe continentale, où les partenaires sociaux ont négocié de vraies réformes des coûteuses politiques sociales tout en préservant la cohésion sociale.
