Jump to ContentJump to Main Navigation
Shared Responsibility, Shared RiskGovernment, Markets and Social Policy in the Twenty-First Century$
Users without a subscription are not able to see the full content.

Jacob Hacker and Ann O'Leary

Print publication date: 2012

Print ISBN-13: 9780199781911

Published to Oxford Scholarship Online: February 2015

DOI: 10.1093/acprof:osobl/9780199781911.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 October 2021

America’s Next Social Contract

America’s Next Social Contract

Lessons from the Past, Prospects for the Future

(p.260) Conclusion America’s Next Social Contract
Shared Responsibility, Shared Risk
Jacob S. Hacker

Ann O’Leary

Oxford University Press

This chapter discusses lessons from the past and prospects for the future with regards to sharing economic risks, with particular reference to the so-called Great Risk Shift and the government's role as risk managers. It highlights the political nature of economic security as well as public opinion with regards to government and its role in the economy. It also looks at the history of risk management and trends in risk management in the United States before discussing the need to rethink the way economic risk is managed. More specifically, it envisions a new kind of social contract between employers and the government to protect workers against certain risks, particularly those involving retirement, long-term care, and home ownership. Furthermore, the chapter argues that the government needs to reconsider its agreements with workers and families about how they use existing programs and incentives, such as those relating to taxes and social insurance. Finally, it examines U.S. fiscal policy and assesses future prospects for economic security.

Keywords:   economic risk, Great Risk Shift, economic security, risk management, retirement, long-term care, home ownership, taxes, social insurance, fiscal policy

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .