Wasteful Welfare transactions: Why basic income security is fundamental (2005)

Abstract

As is the case in any other policy area, so too with policies to fight poverty and exclusion: policy makers and administrators need to take decisions on what to do and what not to do, including decisions concerning the selection of a universe of options from which policy choices are to be made. Before making (rational) decisions, we must be aware of the options at hand, as well as their costs and consequences. I take it as axiomatic that decision-making, as well as the choice of the range of choices, is costly.