Social security and economic uncertainty: Towards a developmental rationale

The idea that social security is an effective means of addressing economic uncertainty has provided a powerful rationale for its expansion and institu tionalisation over die years. However, this rationale has been challenged b y neo-liberal economists on the ground that social security is actually the cause of economic uncertainty. Their claim is now providing a rationale fo r the retrenchment and Privatisation of social security. This paper offers yet another rationale which emphasises the positive economic benefits Uf so cial security. By promoting developmental forms of social security,,, it co ntends that governments can combine social protection with economic growth and effectively counter the neo-liberal challenge.