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Fixing Inequality in Hong Kong$
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Yue Chim Richard Wong

Print publication date: 2017

Print ISBN-13: 9789888390625

Published to Hong Kong Scholarship Online: January 2018

DOI: 10.5790/hongkong/9789888390625.001.0001

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Social Programs, Third-Sector Competition, and Transparency

Social Programs, Third-Sector Competition, and Transparency

Chapter:
(p.76) 9 Social Programs, Third-Sector Competition, and Transparency
Source:
Fixing Inequality in Hong Kong
Author(s):

Yue Chim Richard Wong

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888390625.003.0009

Why have the welfare states of the rich countries of the West, which transfer on average nearly a quarter of GDP from the rich to the poor, failed to alleviate poverty? And why has inequality widened in recent decades in these countries? The liberals in these countries—intellectuals and politicians—continue to argue for more public transfers. But if income redistribution could solve poverty, should it not have done so by now? The illusion that poverty can be solved through income redistribution is the key reason why so many rich economies have become saddled with public debt: in some countries it approaches 100% and even 200% of GDP.

Keywords:   Welfare, Alleviate, Poverty, Near poverty, Income redistribution, Economic growth

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