In the wake of the global financial crash, there is possibly no more pressing question for social policy than what forms of welfare are affordable and how. Clear and accessible, Howard Glennerster's Understanding the Cost of Welfare is unique in offering an authoritative, levelheaded, and nontechnical survey of how economic priorities and pressures affect social policies and what the mechanics of funding services mean in real terms. An updated edition of Glennerster's Understanding the Finance of Welfare, featuring a strengthened comparative dimension in its investigation of these vital services, this book provides more relevant institutional detail than any other text on this topic. Understanding the Cost of Welfare is an important, substantial contribution at a time when neoliberal arguments for reducing the burden of welfare are more dominant than ever before.

As the state withdraws from welfare provision, the mixed economy of welfare – involving private, voluntary and informal sectors – has become ever more important. This second edition of Powell’s acclaimed textbook on the subject brings together a wealth of respected contributors. New features of this revised edition include: • An updated perspective on the mixed economy of welfare (MEW) and social division of welfare (SDW) in the context of UK Coalition and Conservative governments • A conceptual framework that links the MEW and SDW with debates on topics of major current interest such as ‘Open Public Services’, ‘Big Society’, Any Qualified Provider’, Private Finance Initiative (PFI) and ‘Public Private Partnerships’ (PPP) Containing helpful features such as summaries, questions for discussion, further reading suggestions and electronic resources, this will be a valuable introductory resource for students of social policy, social welfare and social work at both undergraduate and postgraduate level.

An analysis of the welfare state from a political economy perspective that examines the effects of aging populations, migration, and globalization on industrialized economies. In The Decline of the Welfare State, Assaf Razin and Efraim Sadka use a political economy framework to analyze the effects of aging populations, migration, and globalization on the deteriorating system of financing welfare state benefits as we know them. Their timely analysis, supported by a unified theoretical framework and empirical findings, demonstrates how the combined forces of demographic change and globalization will make it impossible for the welfare state to maintain itself on its present scale. In much of the developed world, the proportion of the population aged 60 and over is expected to rise dramatically over the coming years—from 35 percent in 2000 to a projected 66 percent in 2050 in the European Union and from 27 percent to 47 percent in the United States—which may necessitate higher tax burdens and greater public debt to maintain national pension systems at current levels. Low-skill migration produces additional strains on welfare-state financing because such migrants typically receive benefits that exceed what they pay in taxes. Higher capital taxation, which could potentially be used to finance welfare benefits, is made unlikely by international tax competition brought about by globalization of the capital market. Applying a political economy model and drawing on empirical data from the EU and the United States, the authors draw an unconventional and provocative conclusion from these developments. They argue that the political pressure from both aging and migrant populations indirectly generates political processes that favor trimming rather than expanding the welfare state. The combined pressures of aging, migration, and globalization will shift the balance of political power and generate public support from the majority of the voting population for cutting back traditional welfare state benefits.

When the state punishes criminals or removes children at risk, its power is immediately apparent. However, power is also at stake when the state seeks to educate, advise, or empower citizens, and this book encourages reflection on the exercise of professional power in these less coercive encounters.

Including education has profound consequences, undergirding the case for the productivity of welfare state programs and the explanation for why all rich nations have large welfare states, and identifying US welfare state leadership. From 1968 through 2006, the United States swung right politically and lost its lead in education and opportunity, failed to adopt universal health insurance and experienced the most rapid explosion of health care costs and economic inequality in the rich world. The American welfare state faces large challenges. Restoring its historical lead in education is the most important but requires investing large sums in education, beginning with universal pre-school and in complementary programs that aid children's development.

There is no precedent to the current economic crisis which looks set to redefine social policy debate throughout the globe. But its effects are not uniform across nations. Bringing together a range of expert contributions, the key lesson to emerge from this book is that 'the crisis' is better understood as a variety of crises, each mediated by national context. Consequently, there is an array of potential trajectories for welfare systems, from those where social policy is regarded as incompatible with the post-crisis economy to those where it is considered essential to future economic growth and security.

The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.

This book identifies the main causes of welfare state system extension, as well as the differences in welfare state system design and their consequences for human behavior and the future financial stability of the systems in place in different parts of Asia. Providing ten in-depth country case studies from across the region, including India, Thailand, China, Hong Kong, Macao, Taiwan and South Korea, as well as Russia, Turkey and Saudi Arabia, the book focuses on the situation of welfare state system development and its financing in some of the largest countries on earth. It addresses previously neglected areas for investigation, such as the causal reasons for welfare state system extension (not only in Asia, but in general), the types of social security systems and their incentive systems in place and the way they chiefly determine behavior—and thus determine the resulting social security needs. This book will be of interest to all scholars and students of social policy, public policy, political science, sociology, finance and economics, development studies and Asian studies more broadly.

This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.