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Bill English

Big welfare state era must end

Universal public services are supposed to help the poor. But the reality is that complex social needs are ignored.

Public policy determines the institutions that define and regulate the market, and the governance of those institutions requires a continuous flow of reliable performance information.

In the marketplace, this information comes largely from prices. Prices provide rich information about where resources should flow, and the market provides a constant feedback loop for complex systems to learn, adapt and adjust.

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Sir Bill English is a former prime minister of New Zealand.

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    Original URL: https://www.afr.com/policy/health-and-education/big-welfare-state-era-must-end-20191128-p53eyu