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Human Development in the Era of Globalization

Human Development in the Era of Globalization

Essays in Honor of Keith B. Griffin

Edited by James K. Boyce, Stephen Cullenberg, Prasanta K. Pattanaik and Robert Pollin

Honoring Keith Griffin’s more than 40 years of fundamental contributions to the discipline of economics, the papers in this volume reflect his deep commitment to advancing the well-being of the world’s poor majority and his unflinching willingness to question conventional wisdom as to how this should be done.

Chapter 13: What Will Become of the Welfare State?

Victor D. Lippit

Subjects: development studies, development studies, economics and finance, institutional economics, political economy, politics and public policy, political economy


Victor D. Lippit Among the various forms of contemporary capitalism, the ‘welfare state’ has become most firmly entrenched in continental Europe. The welfare state is based on a broad social consensus favoring relative equality and the assurance of access to the basic requirements for a decent living standard for the entire population. This implies access to health care and sufficient income to provide decent food, housing and other basic requirements. Retirees are assured of adequate pensions, and those who lose income due to unemployment, disability or the death of the main breadwinner are also eligible for regular payments. In addition, in much of Europe, the welfare state implies access to education and child care, and such benefits as parental leave to care for newborns, young children or sick children. Since the early 1990s, the welfare state has come under increasing challenge. There are a number of reasons for this, ranging from the intensification of internal contradictions within the welfare state itself to demographic changes, medical advances, globalization and technological change. The challenges confronting social democracy or the welfare state threaten to undermine the most humane form of capitalism the world has managed to produce. In addition to the welfare state, the other primary forms are the state-led capitalism of East Asia (for which Japan and South Korea are the primary prototypes, with China beginning to follow a similar path), and the ‘harsh’ capitalism of the AngloAmerican (especially American) variety. Under ‘harsh’ capitalism, policy tends to be driven by market ideologues....

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