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Posts Tagged ‘safety net’

Risk Taking

President Obama made a key social science claim in his second inaugural address. He said, “the commitments we make to each other–through Medicare, and Medicaid, and Social Security [and presumably through other parts of the welfare state, too]–these things do not sap our initiative; they strengthen us. They do not make us a nation of takers; they free us to take the risks that make this country great.”BHO

This passage includes a put-down of Mitt Romney’s controversial campaign comment that 47% of Americans supported Obama because they were dependent “takers.” (See an earlier post on the 47% comment.) More fundamentally, Obama’s statement asserts that government-provided security does not undermine individuals’ entrepreneurial spirit, but instead bolsters that spirit. An interesting – and controversial – hypothesis.

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