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Towards A Social Investment Welfare State?Ideas, Policies and Challenges$
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Nathalie Morel, Bruno Palier, and Joakim Palme

Print publication date: 2011

Print ISBN-13: 9781847429247

Published to Policy Press Scholarship Online: May 2012

DOI: 10.1332/policypress/9781847429247.001.0001

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Two or three waves of welfare state transformation?

Two or three waves of welfare state transformation?

Chapter:
(p.33) Two Two or three waves of welfare state transformation?
Source:
Towards A Social Investment Welfare State?
Author(s):
Anton Hemerijck
Publisher:
Policy Press
DOI:10.1332/policypress/9781847429247.003.0002

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

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