Nicholas Barr will deliver a lecture on "Welfare state - Necessity not luxury", on behalf of the Central Bank of Malta.

Prof. Barr is a British economist, currently serving as professor of public economics at the London School of Economics

The lecture will outline four sets of reasons why countries have a welfare state: to address market failures, to share risk, to assist economic growth and to address distributional concerns.

It then will discuss the design of welfare states, considering, in turn, the approaches taken to address income risks in working life and retirement, health, skills and social risks. It will conclude with a discussion of how to combine good design with fiscal sustainability.

The lecture will be delivered on Tuesday, September 11 at 11am at Binja Laparelli, Central Bank of Malta.

Admission is free but registration is required on


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