Social security represents an investment in a nation’s human infrastructure. This book outlines basic concepts such as the social protection floor and the social security staircase, analyzes the affordability of various approaches, and examines the results of practices around the world, especially in low- and middle-income countries.
The second part of Extending Social Security to All weighs the pros and cons of conditional cash transfers. Based on a wealth of statistics, it argues that effective social transfer programs not only alleviate poverty but also improve labor market participation, productivity, nutrition, health care, education, consumption, and social inclusion. The book demonstrates that such investment can benefit poorer countries as well as richer ones. Even in times of tightened budgets and global economic crisis, the dividends are well worth the expenditure.