Contents -- List of Tables -- List of Figures -- 1. Introduction -- 1. Core Arguments -- 2. The Welfare State and its Objectives -- 3. Organization of the Book -- Part 1. Economic Theory -- 2. The Market and Information -- 1. The Welfare State with Perfect Information -- 2. Imperfect Information in the Goods Market -- 3. Imperfect Information in Insurance Markets -- 4. Implications -- Part 2. Insurance -- Introduction to Part 2 -- 3. The Mirage of Private Unemployment Insurance -- 1. Objectives -- 2. Information Problems -- 3. Operational Problems -- 4. Conclusions -- 4. Problems with Medical Insurance -- 1. Objectives -- 2. Information Problems -- 3. Funding Health Care: The Options -- 4. Conclusions -- 5. Twenty-First-Century Insurance Issues -- 1. Genetic Screening -- 2. Long-Term-Care Insurance -- Part 3. Pensions -- Introduction to Part 3 -- 6. The Economics of Pensions -- 1. Objectives -- 2. The Centrality of Output -- 3. Uncertainty and Risk -- 4. Information Problems -- 7. Misleading Guides to Pension Design -- 1. Macroeconomic Mythology -- 2. Myths about Pension Design -- 3. The Role of Government -- 8. Pension Design: The Options -- 1. Lessons from Economic Theory -- 2. Essential Elements in Pension Reform -- 3. Policy Choices -- 4. Conclusions -- 9. Twenty-First-Century Pensions Issues -- 1. Population Ageing: Are Pensions Affordable? -- 2. Portable Pensions: The Welfare State as Snail Shell -- Part 4. Education -- Introduction to Part 4 -- 10. Core Issues in the Economics of Education -- 1. Objectives: What do we Mean by a 'Good' Education? -- 2. Measuring the Benefits of Education -- 3. What is the Efficient Level of Education Spending? -- 11. Information Problems -- 1. Information Problems in the Market for Education -- 2. Information Problems, Risk and Uncertainty in Capital Markets -- 12. Designing Student Loans.

1. Why Student Loans? -- 2. Organizing Repayments: Mortgage-Type Schemes -- 3. Organizing Repayments: Income-Contingent Schemes -- 4. Other Features of Student Loans -- 13. Financing Higher Education: The Options -- 1. Lessons from Economic Theory -- 2. Lessons from International Experience -- 3. Conclusions -- 14. Twenty-First-Century Education Issues -- 1. Private Funding -- 2. Student Loans and International Labour Mobility -- 3. Rationalizing the Funding of Tertiary Education -- 4. Individual Learning Accounts -- Part 5. The Welfare State in a Changing World -- Introduction to Part 5 -- 15. The Welfare State in Post-Communist Countries -- 1. The simple analytics of transition -- 2. Insurance: Assisting Labour-Market Adjustment -- 3. Pensions -- 4. Education -- 16. The Welfare State in a Changing World -- 1. Is the 'Crisis' a Crisis? -- 2. A Continuing Welfare State -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W.