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Social Investment as a New Paradigm of Social Policy

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Dudová I.

DANUBE: Law and Economics Review

2013

vol. 4

issue 3

231-242

The objective of this paper is to evaluate the importance and potential benefits of social investment, particularly during times of economic imbalance. Social investment represents a new paradigm of social policy and a new approach to the economic challenges we are currently facing. The investigation concludes that this concept is based mainly on modernizing Europe’s social protection systems to ensure their sustainability, while enabling them to respond to new social needs. In times of crisis, the concept of social investment allows it to be seen in a new context as a new opportunity, because the crisis puts pressure on European countries to change their social models. In terms of long-term social policy, there must be a collective investment strategy that shapes the ability of individuals and families so that they can cope with new social risks and new economic conditions. A social investment pact should promote a positive path for the development of public policies in a situation where European states are facing budget deficits and a debt crisis. The modernizing of social policy requires that decisions on funding are led by results ex ante and systematically address the role of social policies in the various stages of an individual’s life.

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1 DANUBE: Law and Economics Review

1 Dudová I.

1 2013

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Social Investment as a New Paradigm of Social Policy