Edited by Jani Erola, Professor of Sociology, Director of INVEST Research Flagship Centre, Department of Social Research, University of Turku, Pasi Moisio, Research Professor and Johanna Peltoniemi, Senior Researcher, Finnish Institute for Health and Welfare, Finland

‘This excellent book offers a critical reassessment of the social investment paradigm, arguing for targeted interventions to strengthen contemporary welfare states in the face of today’s challenges. The authors situate the investment–intervention approach within broader welfare state evolutions, and Finnish case studies will inspire both future scholarship and evidence-informed practice.’

• Contents1 Social investments with interventions 1Jani Erola, Pasi Moisio and Johanna PeltoniemiPART I EXTENDING SOCIAL INVESTMENTS WITHINTERVENTIONS2 The investment-intervention approach for welfare states 5Jani Erola, Pasi Moisio and Johanna Peltoniemi3 The economic dividend of social investment 20Anton Hemerijck and Daniel Fernandes4 How to understand interventions in welfare state policy context 53Johanna Peltoniemi, Sanna Herkama, Sakari Karvonen andAnu MuuriPART II WHY SOCIAL INVESTMENTS ALONE ARE NOTENOUGH TO ADDRESS FUTURE MEGACHALLENGES5 Loss of solidarity and civic virtue? Shift from the threeworlds of welfare to technocratic social investment hybridwelfare states 66Pasi Moisio andMoisio and Johanna Peltoniemi6 Structural overstretching: How Finland can afford its welfarestate 80Juho Saari7 Walks the walk, but doesn’t talk the talk: Finnishexceptionalism from the Nordic perspective 99Olli Kangas and Mikko Niemelä8 How can the Nordic welfare state respond to demographicchange? 122Marika Jalovaara, Jessica Nisén and Johanna Lammi-Taskula9 Redefining welfare deservingness: The impact of AI andalgorithmic systems on the social investment state 143Minna van Gerven and Wim Van Lancker10 Public policy for future generations: Well-being economy inthe Nordic context 159Heikki HiilamoPART III CASE STUDIES OF EFFECTIVE INTERVENTIONSFROM FINLAND11 Housing First and the reduction of homelessness in Finlandamong people with substance abuse problems 176Aleksi Karhula, Joonas Ollonqvist, Elisabetta Leni, VeeraNiemi and Pasi Moisio12 Not just kids’ play: Bullying prevention is an investment thatpays off 208Sanna Herkama, Marie-Pier Larose, Tiina Turunen andChristina Salmivalli13 Supporting refugee children’s mental health and learning ineducational and healthcare services 223Kirsi Peltonen, Mia Huolman and Sanna Korpela14 From research to reality: Digital parent training for managingdisruptive behaviour in children 240Terja Ristkari, Malin Kinnunen and Marjo Kurki15 Pension reforms beyond social investment: Do socialinvestment and intervention layers exist in Finland’s pensionsystem? 254Ilari Ilmakunnas, Joonas Ollonqvist and Pasi Moisio16 Lessons from the Finnish Basic Income Experiment 266Henri Salokangas, Outi Sirniö, Heikki Hiilamo and Pasi MoisioPART IV EPILOGUE17 Can the investment-intervention approach deliver? 283Jani Erola, Pasi Moisio, Johanna Peltoniemi and Paula Saikkonen

Edited by Jani Erola, Professor of Sociology, Director of INVEST Research Flagship Centre, Department of Social Research, University of Turku, Pasi Moisio, Research Professor and Johanna Peltoniemi, Senior Researcher, Finnish Institute for Health and Welfare, Finland

‘This excellent book offers a critical reassessment of the social investment paradigm, arguing for targeted interventions to strengthen contemporary welfare states in the face of today’s challenges. The authors situate the investment–intervention approach within broader welfare state evolutions, and Finnish case studies will inspire both future scholarship and evidence-informed practice.’

• Contents1 Social investments with interventions 1Jani Erola, Pasi Moisio and Johanna PeltoniemiPART I EXTENDING SOCIAL INVESTMENTS WITHINTERVENTIONS2 The investment-intervention approach for welfare states 5Jani Erola, Pasi Moisio and Johanna Peltoniemi3 The economic dividend of social investment 20Anton Hemerijck and Daniel Fernandes4 How to understand interventions in welfare state policy context 53Johanna Peltoniemi, Sanna Herkama, Sakari Karvonen andAnu MuuriPART II WHY SOCIAL INVESTMENTS ALONE ARE NOTENOUGH TO ADDRESS FUTURE MEGACHALLENGES5 Loss of solidarity and civic virtue? Shift from the threeworlds of welfare to technocratic social investment hybridwelfare states 66Pasi Moisio andMoisio and Johanna Peltoniemi6 Structural overstretching: How Finland can afford its welfarestate 80Juho Saari7 Walks the walk, but doesn’t talk the talk: Finnishexceptionalism from the Nordic perspective 99Olli Kangas and Mikko Niemelä8 How can the Nordic welfare state respond to demographicchange? 122Marika Jalovaara, Jessica Nisén and Johanna Lammi-Taskula9 Redefining welfare deservingness: The impact of AI andalgorithmic systems on the social investment state 143Minna van Gerven and Wim Van Lancker10 Public policy for future generations: Well-being economy inthe Nordic context 159Heikki HiilamoPART III CASE STUDIES OF EFFECTIVE INTERVENTIONSFROM FINLAND11 Housing First and the reduction of homelessness in Finlandamong people with substance abuse problems 176Aleksi Karhula, Joonas Ollonqvist, Elisabetta Leni, VeeraNiemi and Pasi Moisio12 Not just kids’ play: Bullying prevention is an investment thatpays off 208Sanna Herkama, Marie-Pier Larose, Tiina Turunen andChristina Salmivalli13 Supporting refugee children’s mental health and learning ineducational and healthcare services 223Kirsi Peltonen, Mia Huolman and Sanna Korpela14 From research to reality: Digital parent training for managingdisruptive behaviour in children 240Terja Ristkari, Malin Kinnunen and Marjo Kurki15 Pension reforms beyond social investment: Do socialinvestment and intervention layers exist in Finland’s pensionsystem? 254Ilari Ilmakunnas, Joonas Ollonqvist and Pasi Moisio16 Lessons from the Finnish Basic Income Experiment 266Henri Salokangas, Outi Sirniö, Heikki Hiilamo and Pasi MoisioPART IV EPILOGUE17 Can the investment-intervention approach deliver? 283Jani Erola, Pasi Moisio, Johanna Peltoniemi and Paula Saikkonen

Edited by Jani Erola, Professor of Sociology, Director of INVEST Research Flagship Centre, Department of Social Research, University of Turku, Pasi Moisio, Research Professor and Johanna Peltoniemi, Senior Researcher, Finnish Institute for Health and Welfare, Finland

‘This excellent book offers a critical reassessment of the social investment paradigm, arguing for targeted interventions to strengthen contemporary welfare states in the face of today’s challenges. The authors situate the investment–intervention approach within broader welfare state evolutions, and Finnish case studies will inspire both future scholarship and evidence-informed practice.’

• Contents1 Social investments with interventions 1Jani Erola, Pasi Moisio and Johanna PeltoniemiPART I EXTENDING SOCIAL INVESTMENTS WITHINTERVENTIONS2 The investment-intervention approach for welfare states 5Jani Erola, Pasi Moisio and Johanna Peltoniemi3 The economic dividend of social investment 20Anton Hemerijck and Daniel Fernandes4 How to understand interventions in welfare state policy context 53Johanna Peltoniemi, Sanna Herkama, Sakari Karvonen andAnu MuuriPART II WHY SOCIAL INVESTMENTS ALONE ARE NOTENOUGH TO ADDRESS FUTURE MEGACHALLENGES5 Loss of solidarity and civic virtue? Shift from the threeworlds of welfare to technocratic social investment hybridwelfare states 66Pasi Moisio andMoisio and Johanna Peltoniemi6 Structural overstretching: How Finland can afford its welfarestate 80Juho Saari7 Walks the walk, but doesn’t talk the talk: Finnishexceptionalism from the Nordic perspective 99Olli Kangas and Mikko Niemelä8 How can the Nordic welfare state respond to demographicchange? 122Marika Jalovaara, Jessica Nisén and Johanna Lammi-Taskula9 Redefining welfare deservingness: The impact of AI andalgorithmic systems on the social investment state 143Minna van Gerven and Wim Van Lancker10 Public policy for future generations: Well-being economy inthe Nordic context 159Heikki HiilamoPART III CASE STUDIES OF EFFECTIVE INTERVENTIONSFROM FINLAND11 Housing First and the reduction of homelessness in Finlandamong people with substance abuse problems 176Aleksi Karhula, Joonas Ollonqvist, Elisabetta Leni, VeeraNiemi and Pasi Moisio12 Not just kids’ play: Bullying prevention is an investment thatpays off 208Sanna Herkama, Marie-Pier Larose, Tiina Turunen andChristina Salmivalli13 Supporting refugee children’s mental health and learning ineducational and healthcare services 223Kirsi Peltonen, Mia Huolman and Sanna Korpela14 From research to reality: Digital parent training for managingdisruptive behaviour in children 240Terja Ristkari, Malin Kinnunen and Marjo Kurki15 Pension reforms beyond social investment: Do socialinvestment and intervention layers exist in Finland’s pensionsystem? 254Ilari Ilmakunnas, Joonas Ollonqvist and Pasi Moisio16 Lessons from the Finnish Basic Income Experiment 266Henri Salokangas, Outi Sirniö, Heikki Hiilamo and Pasi MoisioPART IV EPILOGUE17 Can the investment-intervention approach deliver? 283Jani Erola, Pasi Moisio, Johanna Peltoniemi and Paula Saikkonen