Financialisation and Social Policy

By Ben Fine,
School of Oriental and African Studies, University of London:

“Recent developments in social policy under neo-liberalism have been driven by the requirements of, and responses to the dysfunctions of, financialisation. Whilst the current crisis has undermined the legitimacy of neo-liberalism, shifts in social policy will require a combination of greater resources and commitment to programm-especific approaches that are geared towards creation of some form of (developmental) welfare state. Otherwise, early evidence from response to the crisis suggests minimal intervention relative to need and continuing subordination to the imperatives of financialisation.”

Read article at SOAS Research Online

Presented at the UNRISD conference on the “Social and Political Dimensions of the Global Crisis: Implications for Developing Countries” (12 – 13 November 2009 – Geneva).

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