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Why Do Social Safety Nets Matter?

In: Formal and Informal Social Safety Nets

Author

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  • Mohammad Ashraf

Abstract

Any crisis situation highlights the importance of safety nets. In recent history, examples of such situations abound. In August 2005 Hurricane Katrina reminded us the value of stronger levies; in February 2012 the Fukushima Daiichi nuclear disaster pointed to the loopholes in nuclear energy production; and in April 2010 the BP oil spill in the Gulf of Mexico showed how hard it was to control a disaster. Similar is the case with economic misfortunes and missteps. One example is the Great Recession of 2007–2009 and its aftermath. It has certainly made it clear that individuals do fall on hard times and that they do need assistance. Often hard times happen even if people have been responsible and saving for the proverbial rainy days.

Suggested Citation

  • Mohammad Ashraf, 2014. "Why Do Social Safety Nets Matter?," Palgrave Macmillan Books, in: Formal and Informal Social Safety Nets, chapter 0, pages 1-12, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-38874-2_1
    DOI: 10.1057/9781137388742_1
    as

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