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| − | In [[politics]], '''income redistribution''' refers to the concept that [[government]]s should encourage the movement of [[wealth]] from richer individuals to poorer individuals. This idea is usually embraced by [[liberals]]s but rejected by [[conservative]]s.
| + | #REDIRECT [[Income redistribution]] |
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| − | In [[economics]], income redistribution occurs in unregulated [[market]]s when the [[altruism|altruistic]] feelings of actors induce them to make private transfers to others. In certain cases, private transfers alone are not enough to achieve an [[optimal]] distribution of income - for instance, if the transfers devolve to a coordination game of each person giving just the right amount to the "deserving" recepients. Then there arises an economic justification for state-run income transfers through the [[taxation]] and [[welfare]] systems.
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| − | [[Category:Economics]]
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