Extending Social Security to All

Book excerpt: Social security represents an investment in a country's human infrastructure, which is no less important than its physical infrastructure. This book outlines basic concepts such as the social protection floor and the social security staircase, analyses the affordability of various approaches, and examines the results of practices around the world, especially in low- and middle-income countries. Its second part weighs the pros and cons of conditional cash transfers and, based on a wealth of statistics, argues that effective social transfer programmes not only alleviate poverty, but also improve labour market participation, productivity, nutrition, health care, education, consumption and social inclusion. The overall message is that such investment can benefit poorer countries as well as richer ones, and that even in times of tightened budgets and global economic crisis , the dividends are well worth the expenditure.