How does social spending relate to economic growth and which
countries have got this right and wrong? Peter Lindert examines the
experience of countries across the globe to reveal what has worked,
what needs changing, and who the winners and losers are under
different systems. He traces the development of public education,
health care, pensions, and welfare provision, and addresses key
questions around intergenerational inequality and fiscal
redistribution, the returns to investment in human capital, how to
deal with an aging population, whether migration is a cost or a
benefit, and how social spending differs in autocracies and
democracies. The book shows that what we need to do above all is to
invest more in the young from cradle to career, and shift the
burden of paying for social insurance away from the workplace and
to society as a whole.
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