Question: When gauging the amount of inequality, why do transitory and life cycle variation in income cause difficulties? How would a utilitarian, a liberal, and a

When gauging the amount of inequality, why do transitory and life cycle variation in income cause difficulties? How would a utilitarian, a liberal, and a libertarian determine how much income inequality is permissible? What are the pros and cons of in-kind (rather than cash) transfers to the poor? Describe how antipoverty programs can discourage the poor from working. How might you reduce this disincentive? What are the disadvantages of your proposed policy?

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