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Social Policy in Challenging TimesEconomic Crisis and Welfare Systems$
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Kevin Farnsworth and Zoe Irving

Print publication date: 2011

Print ISBN-13: 9781847428288

Published to Policy Press Scholarship Online: May 2012

DOI: 10.1332/policypress/9781847428288.001.0001

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Credit crunch, inequality and social policy

Credit crunch, inequality and social policy

Chapter:
(p.65) Four Credit crunch, inequality and social policy
Source:
Social Policy in Challenging Times
Author(s):

Adrian Sinfield

Publisher:
Policy Press
DOI:10.1332/policypress/9781847428288.003.0004

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

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