Summary of Shifting Tides

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

Shifting Tides summary
Start getting smarter:
or see our plans

Rating

7 Overall

8 Importance

7 Innovation

7 Style


Recommendation

In the United States, where health insurance and other social benefits are often tied to employment, many people view the “welfare state” as a crutch for the poor. But changes in gender roles, the demonstrated shortcomings of private health insurance and varying employment patterns make such thinking woefully obsolete. Professor Nicholas Barr argues, in this cogent analysis for executives and policy experts, that today’s outdated policies do not reflect new realities that make judicious intervention by governments more important than ever.

In this summary, you will learn

  • Why employment and social transitions in the early 21st century call for a redesigned welfare state,
  • What risks to individual security are emerging and
  • How different combinations of funding sources can achieve workable solutions.
 

About the Author

Nicholas Barr is a professor at the London School of Economics and Political Science

 

Summary

The term “welfare state” commonly refers to an array of government programs, but while many people take the simplistic view that state benefits only aid the poor, they are in fact a way to help individuals adversely affected by market failures. The welfare state fill gaps in private insurance and social care, and fuels economic growth by providing a support system for people starting new businesses or careers. Irrational human behavior, imperfect market information and insecurity make welfare states necessary, regardless of the level of prosperity in a society.

Stable environments call for different...


More on this topic

Customers who read this summary also read

The Vanishing American Corporation
9
Globalization and Income Inequality Revisited
7
Stabilizing an Unstable Economy
8
State Transformation and the European Integration Project
7
People Get Ready
8
Opportunity for Growth
8

Related Channels

Comment on this summary