Addressing Economic Insecurity makes the case that economic insecurity is a political, economic and societal challenge that public policy must understand and address.
Economic insecurity impacts a broad spectrum of society – not only those in persistent and structural poverty and precarious economic circumstances, but also low and middle income groups: those who self-identify as ‘just about managing’ and those whom government labels as ‘ordinary working families’. Economic insecurity relates closely to issues in the workplace and the labour market, but encompasses wider material as well as psychosocial elements experienced by households, communities and places, encompassing networks of social support and public services.
The report is part of a long-term collaboration with Nottingham Civic Exchange, a civic think tank established by Nottingham Trent University. This programme – Out of the Ordinary – involves assessing, analysing and planning collaborative action to address the contemporary challenges of ordinary working families.
The RSA defines economic security as: “The degree of confidence that a person can have in maintaining a decent quality of life, now and in the future, given their economic and financial circumstances.”
The evidence within the report establishes that economic security matters alongside more traditional policy goals around employment, inequality and poverty. Economic security itself should become a prime focus of national debate, policy and institutions. Unlike poverty or even inequality, the idea of economic security and insecurity is one to which most people – including many families with above average incomes – relate. The report draws on a commissioned Populus survey of 2,083 British adults…
SOURCE: Atif Shafique. “Addressing Economic Insecurity.” The RSA, January 2018.
Produced by the librarians at the Brotherhood of St Laurence in Melbourne, Australia