Chapter

Two or three waves of welfare state transformation?

Edited by Anton Hemerijck

in Towards A Social Investment Welfare State?

Published by Policy Press

Published in print November 2011 | ISBN: 9781847429247
Published online May 2012 | e-ISBN: 9781447305613 | DOI: http://dx.doi.org/10.1332/policypress/9781847429247.003.0002
Two or three waves of welfare state transformation?

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This chapter analyses three distinct phases of welfare state reconfiguration: the era of welfare state expansion and class compromise, starting at the end of World War II; the period of welfare retrenchment and neo-liberalism, which took shape in the wake of the oil shocks of mid- to late-1970s; and the more recent epoch since the mid-1990s, in which social investment policy prescriptions took root. It provides us with an understanding of each period as marked by distinctive social policy repertoires, anchored in hegemonic economic theories, designed to respond to both socioeconomic and political contexts and the challenges of the day. The chapter analyses the economic thinking that can be associated with the social investment perspective.

Keywords: Keynesianism; neo-liberalism; social investment; macro-economic thinking; social policy repertoires; welfare state transformation

Chapter.  10851 words. 

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