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Beschreibung:
Social welfare spending on health, welfare, and insurance against adverse outcomes expanded a great deal in all of the developed countries during the 20th century. The institutional structure of the spending varies with respect to the extent that governments or market institutions provide the services. Sweden and the United States are on opposite ends of this spectrum. After discussing the problems with adverse selection and moral hazard that bedevil private and public social welfare organizations, I compare the development of the social welfare institutions in the U.S. and Sweden in the 20th century