Last week on the show I looked at why the poor are poor in the United States. If you listened to the episode then you know it had nothing to do with their willingness to work, but everything hat the perverse incentives the welfare state offers. 

In this weeks episode, we take a really hard look at the Welfare State and the dangers that arise as this insidious institution rises. 

Things you hear are:

• What is the welfare state?
• What is a Moral Hazard?
• The moral hazard of social welfare programs like, Food stamps, Housing subsidies and health care benefits?
• The moral hazard of the federal student loan programs, like Stafford loans
• The consequences of the welfare state.

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