Formal and Informal Social Safety Nets

Mohammad (Mitu) Ashraf is Professor of Economics at the University of North Carolina - Pembroke, USA. His research interests include: Managerial Economics, Quantitative Methods and Business Statistics. His articles have appeared in academic journals such as: Applied Economics Letters, Contemporary Economics Policy, Annals of Economics and Finance and the Journal of Economics.

"In short, with respect to this topic, this book scores a perfect trifecta. It needed to be written, it needed to be published, [and] it needs to be read." - Robert O. Schneider, Professor of Public Administration, University of North Carolina Pembroke, USA; Author, Emergency Management and Sustainability "In an era when so much economic analysis has been driven by neo-liberal and anti-government ideologies, Ashraf has written a refreshingly objective examination of the costs and benefits of safety nets. It is a comprehensive, trenchant study of all the major issues surrounding this important topic, such as: (a) the need for safety nets in modern society; (b) their role in promoting innovation, economic development, and social stability; (c) problems like free-riding; and (d) methods of financing safety nets. Ashraf argues that, rather than undermining the incentive structure of a modern economy, as some assume, safety nets actually stimulate economic activity by supporting demand in times of recession, maintaining valuable skills in the workforce, reducing costly anti-social reactions to unemployment; and strengthening social and political cohesion. In short, they are a cost-effective tool. This volume is an excellent guide for policy makers, and it provides a very incisive literature review for researchers wishing to work in the field." - Michael L. Stratil, Associate Professor of Psychology (Retired), University of North Carolina Pembroke, USA

• 1. Why do Social Safety Nets Matter? 2. The Need for Formal Social Safety Nets 3. Research and Development, Innovation, and Economic Growth 4. Innovation and Social Safety Nets 5. Income Distribution and Economic Growth and Development 6. Formal Social Safety Nets, Income Distribution, and the Society 7. Financing of Formal Social Safety Nets 8. Faith-Based Organizations and the Provision of Informal Social Safety Nets 9. Concluding Remarks