"The Welfare State in Trouble: Systemic Crisis or Growing Pains?" The American Economic Review (May 1980).
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The welfare state may thus face a wave of hostile public opinion and as a result may well pass through a difficult phase, with the need for consolidation and even retrenchment. However, if the reasons suggested here for the change in the climate of opinion are correct, the trouble could be temporary.
— Albert O. Hirschman
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The welfare state may thus face a wave of hostile public opinion and as a result may well pass through a difficult phase, with the need for consolidation and even retrenchment. However, if the reasons suggested here for the change in the climate of opinion are correct, the trouble could be temporary." in the context of ""The Welfare State in Trouble: Systemic Crisis or Growing Pains?" The American Economic Review (May 1980)." to mean that wisdom is timeless.
Source: Wikiquote: "Albert O. Hirschman" (Quotes)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About Albert O. Hirschman
Albert Otto Hirschman (born Otto-Albert Hirschmann; April 7, 1915 – December 10, 2012) was an economist.
About Albert O. Hirschman
Albert Otto Hirschman (born Otto-Albert Hirschmann; April 7, 1915 – December 10, 2012) was an economist.
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