חלוקה מחדש ופוליטיקת הפיננסיאליזציה של מדיניות רווחה: המקרה של "חיסכון לכל ילד"

Translated title of the contribution: Redistribution and the politics of welfare policy financialization: the case of "Savings for Every Child" program

Research output: Contribution to journalArticlepeer-review

Abstract

The financialization of the political economy constitutes one of the key features of the neoliberal regime. This process also takes place in various domains of state action, including welfare policy. The financialization of welfare policy involves the establishment of various types of links between welfare programs, and financial logics, actors and markets. Given the potential tensions between the logics of the welfare state and of finance,this article examines two main questions: Which political conditions are likely to promote the financialization of welfare programs? And, what are the consequences of financialization for the politics of the welfare state?The study of the “Savings for Every Child” program indicates that under conditions of a salient political conflict between demands for redistribution and opposition to the decommodifying effects of universal cash benefits,financialization serves as a solution which satisfies the former while subordinating redistribution to principles of commodifying social investment. Regarding the second question, the study suggests that the use of financial instruments in cash transfer programs makes financial market actors, interests and considerations an integral factor in welfare policy-making processes, leading to significant changes in the politics of the welfare state.
Translated title of the contributionRedistribution and the politics of welfare policy financialization: the case of "Savings for Every Child" program
Original languageHebrew
Pages (from-to)71-92
Number of pages22
Journalביטחון סוציאלי
Volume116
StatePublished - 2022

IHP publications

  • ihp
  • Children
  • Delegated legislation
  • Economics -- Political aspects
  • Family allowances -- Israel
  • Investments
  • Social integration
  • Social policy
  • Welfare state

Fingerprint

Dive into the research topics of 'Redistribution and the politics of welfare policy financialization: the case of "Savings for Every Child" program'. Together they form a unique fingerprint.

Cite this