Polemic Paper from the year 2018 in the subject Economy - Health
Economics, grade: 1, Egerton University, language: English, abstract:
Over the decades, welfare states have been making effort to address
social risks, in order to enhance the wellbeing and economic prosperity
of their citizens. However, the post-industrial welfare state is
experiencing a significant social risk shift due to social change. It is
apparent that the post-industrial social change has led to the emergence
of what the current literature refer to as "New Social Risks." This
implies that welfare states are facing a more complex task of responding
to the "New Social Risks" which are attributable to changes in family
structures and transformation of the labor market. From a critical
perspective, the "New Social Risks" facing Australia and other affluent
countries include precarious employment, gender inequality, economic
insecurity, and poverty. Issues such as single parenthood, possession of
obsolete or low skills, care for the elderly and disabled people, and
work and family life balance are considered as new social risks. Even
though a precise definition of the New Social Risks concept is entirely
missing in literature, it is believed that these social risks are
related to socioeconomic transformations within post-industrial
societies. To address these risks, a universal basic income has become
highly debated. However, the proposed Universal Basic Income policy is
not a policy reform that fits all. Countries have to weigh its benefits
and limitations. In the case of Australia, the key question should be
whether this policy is ideal to solve the emerging social risks or not.
Again, it is worth to consider its cost; can Australia afford it?
Therefore, this essay presents a focused argument on whether Australia
should adopt a basic income policy or not.
