In theory people will always prefer cash because they can spend it on whatever they want (unless of course it is difficult to buy what they most want). This isn’t really up for debate.
What is up for debate is if people actually spend money in a way that most effectively improves their welfare. It sounds paternalistic to say, but I suspect they don’t for the reasons Nick and others have given.
In theory people will always prefer cash because they can spend it on whatever they want (unless of course it is difficult to buy what they most want). This isn’t really up for debate.
What is up for debate is if people actually spend money in a way that most effectively improves their welfare. It sounds paternalistic to say, but I suspect they don’t for the reasons Nick and others have given.