Title:	Formal and Informal Social Safety Nets
Authors:	Mohammad Ashraf
Keywords:	Income distribution
Issue Date:	2014
Publisher:	Palgrave Macmillan
Description:	The financial crisis, which hit the United States and most of the rest of the world during 2007, and the Great Recession of 2007–2009 and their after- math forced countries to revisit the issues related to social safety nets. Not surprisingly, whenever the topic of social safety nets surfaces, the talk of taxes and budget deficits, and the possible ill-effects these taxes and deficits may bring for the economy, follows. I address a small part of this vast and rather complicated issue in this book, that is, the effects of social safety nets on economic growth via increased innovation. In this book I argue that just as a well-functioning, appropriately regulated monetary system and a legal tender are imperative for a modern economy, the provision of tax-financed government-provided formal social safety nets may also be a requirement of a modern economy. This is especially so if we want an economy to grow beyond a certain level. I realize that even the suggestion that tax-financed government-provided formal social safety nets can enhance economic growth tends to flare tempers among many. My hope, however, is that the readers of this book evaluate the argument presented here on its merits, and do not dismiss it just because it sounds like a “Liberal” point of view, or for that matter accept it if the readers happen to be left-leaning Liberals. It is, indeed, sad that often even the admittance of having an understand- ing of the “other side’s” argument is considered a weakness. This is perhaps a sign of intellectual-adolescence of our current socio-political environment. Politicians and policymakers dare not give an inkling of such an under- standing for fear of losing their jobs. And, I am sorry to say, at times even academics, whose job is to question and develop a deeper understanding of issues, dare not appreciate for fear of becoming outcasts. I realize the perils of being a perennial outsider, but isn’t a forced conformity equally alienating
URI:	http://10.6.20.12:80/handle/123456789/52684
ISBN:	978-1-137-38874-2
Appears in Collections:	Population Studies

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