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Shared Responsibility, Shared Risk – Government, Markets and Social Policy in the Twenty-First Century - Oxford Scholarship Online
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Shared Responsibility, Shared Risk: Government, Markets and Social Policy in the Twenty-First Century

Jacob Hacker and Ann O'Leary


The collapse of the financial markets in 2008 and the resulting “Great Recession” merely accelerated an already worrisome trend: the shift away from an employer-based social welfare system in the United States. Since the end of World War II, a substantial percentage of the costs of social provision—most notably, unemployment insurance and health insurance—has been borne by employers rather than the state. The United States has long been unique among advanced economies in this regard, but in recent years, its social contract has become so frayed that is fast becoming unrecognizable. Despite Bar ... More

Keywords: financial markets, health care, social welfare, social policy, unemployment, social security, insurance, Barack Obama, privatization of risk, social safety net

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780199781911
Published to Oxford Scholarship Online: February 2015 DOI:10.1093/acprof:osobl/9780199781911.001.0001


Affiliations are at time of print publication.

Jacob Hacker, editor
Yale University

Ann O'Leary, editor
University of California-Berkeley Law School

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Part One Inspirations and Challenges for Shared Responsibility, Shared Risk

4 “The Arms of Democracy”

Mariano-Florentino Cuéllar and Connor Raso

Part Two Improving Economic Security for Workers

Part Three Improving Economic Security for Families

8 Risk Allocation in Home Ownership

Katherine Porter and Tara Twomey

Part Four Increasing Health and Retirement Security

10 Health Care Reform 2.0

Jacob S. Hacker

11 Bigger and Better

Alicia H. Munnell

12 Government’s Role in Aging and Long-Term Care

Andrew E. Scharlach and Amanda J. Lehning

Part Five Conclusions

Conclusion America’s Next Social Contract

Jacob S. Hacker and Ann O’Leary

End Matter