The stabilizing effects of the social security on the economic crisis

Abstract

In general, articles dealing with the topic of Social Security and economic crisis focus on the effects of the crisis on the Social Security. However, this paper takes the opposite perspective, since it deals with the influence of the Social Security on the crisis. This topic may seem to be of little interest to Social Security analysts, since it could be said that economic policy specialists should deal with it. However, this attitude nowadays is extremely dangerous. There has been a marked shift during the last few years; today the priority scale of many countries places a healthy economy above numerous other objectives including, for example, equity. As a consequence of this relative priority the Social Security can only continue improving its coverage, or even maintaining its present level, if it is not percieved as a menace to the healthy development of the economy.