Abstract
Over the past century, social security in advanced economies has been transformed, and in this paper the history of its growth and some of the causes are reviewed. Yet poverty has not ended and many question the future of social security. Four systems of social security are discussed: social assistance, social insurance, targeted universal benefits and universal basic income. Possible reforms and steps to promote the survival of social security as a core element of a just and civilised society are proposed.
Highlights
Over the past century, social security has become, by far, the largest government programme in most advanced economies of the world
The present: The Achievements and limitations of existing social security If there is a single objective of social security by which its success can be judged, it is the ending of poverty
To remedy the gaps in social insurance coverage, social security systems in many countries have increasingly moved towards universal, non-means-tested, benefits for particular groups, such as for children, the elderly and the disabled
Summary
Social security has become, by far, the largest government programme in most advanced economies of the world. One of the challenges facing social security is ensuring its political sustainability, an issue often ignored, but one that is discussed in the final section In considering these issues, it might be simpler to discuss only the underlying philosophy of social security, or only the political issues that arise, or only the economics of this major component of modern societies. It might be simpler to discuss only the underlying philosophy of social security, or only the political issues that arise, or only the economics of this major component of modern societies This would ignore the entanglement of philosophy, politics and economics that explains the development and functioning of this key area of social policy. We have certainly not reached the end of history as far as social security is concerned
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