Why Do Social Safety Nets Matter?

Mohammad Ashraf ()

Chapter Chapter 1 in Formal and Informal Social Safety Nets, 2014, pp 1-12 from Palgrave Macmillan

Abstract: Abstract Any crisis situation highlights the importance of safety nets. In recent history, examples of such situations abound. In August 2005 Hurricane Katrina reminded us the value of stronger levies; in February 2012 the Fukushima Daiichi nuclear disaster pointed to the loopholes in nuclear energy production; and in April 2010 the BP oil spill in the Gulf of Mexico showed how hard it was to control a disaster. Similar is the case with economic misfortunes and missteps. One example is the Great Recession of 2007–2009 and its aftermath. It has certainly made it clear that individuals do fall on hard times and that they do need assistance. Often hard times happen even if people have been responsible and saving for the proverbial rainy days.

Keywords: Gross Domestic Product; Credit Union; Supplemental Nutrition Assistance Program; Unequal Income Distribution; Relationship Capital (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-38874-2_1

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DOI: 10.1057/9781137388742_1

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