Chapter

Credit crunch, inequality and social policy

Adrian Sinfield

in Social Policy in Challenging Times

Published by Policy Press

Published in print September 2011 | ISBN: 9781847428288
Published online May 2012 | e-ISBN: 9781447305521 | DOI: http://dx.doi.org/10.1332/policypress/9781847428288.003.0004
Credit crunch, inequality and social policy

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The credit crunch and its after-effects challenge social policy to take a broader, societal approach to problems of inequality, differential contribution and compensation if we wish to inform and influence debates on the quantity and quality of life and the distribution of welfare across society as a whole. Tackling widening inequality, a major contributor to the financial and economic crises, requires as much scrutiny of the full range of rewards at the top as of low pay, poor jobs and inadequate benefits at the bottom. Who contributes to welfare, and how, are as important issues as who benefits and how. Fairer contributions from all require closer attention to the ways in which some, both as individuals and through institutions, insulate themselves from the social costs of change and also from contributing to their compensation. In an increasingly irresponsible society, erosion of the overall tax base has reduced the common wealth.

Keywords: inequality; social policy; irresponsible society; bonus; differential reward

Chapter.  6786 words. 

Subjects: Economic Sociology

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