Download - Melbourne Social Equity Institute

Social investment – international
context
Paul Smyth
University of Melbourne
Pre history
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Pre welfare state: tawney Myrdal Keynes etc
Welfare state : T H Marshall
New Left: O’Connor Gough Offe
New Right : friedman hayek
Rediscovery: OECD from social protection
(1980s) to social investment (1990s)
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Deeming and Smyth (2016)The 'Social Investment Perspective' in Social Policy: A Longue
Durée Perspective’, Social Policy and Admin, (October)
UK Third way:
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• ‘Paradigm shift’ (Droboloski\Lister 2008)
• UK Commission on Social Justice 1994:
deregulators\ levellers\ investors/
• Giddens (1998) ‘Social investment state’
• ‘Welfare to work’
• investment in ‘early years’
In EU
• Esping Andersen (1999) Social Foundations of Postindustrial
Economies; (2002) Why we need a new welfare state
• From EU Lisbon strategy (2000): Human capital\knowledge
economy
• Life course
• Employment\ flexicurity
• To EU ‘Social Investment Package’ (2013-)
http://ec.europa.eu/social/main.jsp?catId=1044&langId=en
[US ( Midgley)
Canada ( Jane Jenson).
General: N Morel et al (2012) Towards a social investment welfare state)]
Social investment Today
• From education and skills to multidimensional approach : early learning
needs housing, needs nutrition, needs money etc
• Life course approach
• transitions (early years, schooling, transitions to work, transitions to Care,
life long learning)
• ‘Stocks
• Flows
• Buffers’
• Governance challenge (‘joined up’)
• Returns on investment : the measurement challenge
• See Anton Hemerijck, A. (2015) ‘The Quiet Paradigm Revolution of Social
Investment’, in: Social Politics.
• And 2017 The Uses of Social Investment (OUP)
Australia 2005• National Reform Agenda 2006 - Vic Govt
(2005) Sen, human capital etc
• Rudd-Gillard 2007-13
• Early years
• Schooling
• Youth employment
• health
• Closing the gap (indigenous)
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Perkins, Smyth and Nelms (2004) ‘beyond neoliberalism the social investment state?’;
• Reasserts productivist social policy tradition
• Uncertain economics - GFC\ Keynesian?
Neoliberal?
• Society rediscovered? Subordinated?
• How promote ‘productive’ without
downgrading ‘protection’- a dual imperative
• See Deeming and Smyth (2015) ‘Social Investment after Neoliberalism:
Policy Paradigms and Political Platforms’. Jnl Social Policy, 44:)
Si lib
• McClure report and the ‘discovery’ of social
policy as investment
• Mapping si onto the liberal welfare regime –
about individual failure not the market society
• Nation building out - market fundamentalism
in
• social policy as ‘liability’ to be reduced
• SI with welfare as poison (Porter\Tudge)
International: from SI to inclusive
growth
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Asian Development Bank 2007
World Bank 2008
UNRISD IMFOECD – see IG project
UN Agenda 2030 Sustainable Development
Goals
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ALP (2016) Growing Together Tackling Inequality in Australia
Deeming and Smyth 2017 Reframing Global Social Policy, Policy Press
Reframing
• From washington consensus to inclusive
growth
• Sen et al: ‘Rethinking progress’
• Social policy as investment not consumption
• not just supply side social investment but
demand side economic management
World Bank( Growth Report 2008;
Inclusive Growth 2009)
• Policies for inclusion and growth cant be
separated. No trickle down
• Manage pace and pattern of growth ensuring
equality of opportunity
• Broad based growth across sectors
• Productive employment not just income
redistribution
• On intervention: patience, pragmatism, seek
national fit
World Economic Forum (2015; 2017)
‘The IG and Development Report’
• Pragmatic\institutional economics (education,
land reform, business support, good
governance
• Inclusive economy equitable BEFORE taxes
and transfers are taken into account
• A focus on ‘process’ as well as ‘outcomes’
Integrated social and economic
Framework: 7 Pillars
• Ed and skills - access, quality, equity
• Employment and labour – productive
employment, wage and non-wage
compensation
• Asset building & entrepreneurship – small
business; home and financial asset ownership
• Finance of real ec invetsment
• Corruption and rents
• Basic services and infrastructure – digital,
health etc
• Taxes and transfers- tax code. Social
protection
• For each sub pillar there are stat indicators
making a ‘Dashboard of National KPIs’