#automaticstabilizers — Public Fediverse posts

Work Is Not Well-Being https://www.project-syndicate.org/commentary/development-policies-and-programs-should-focus-on-financial-well-being-not-work-by-adanna-chukwuma-2025-06
"Policymakers and the development community now confront an urgent choice: either watch the gulf between #work and #wellBeing continue to widen, or revise our approach, so that it focuses not on maximizing employment, but on delivering universal financial well-being
… Effective interventions would include labor policies that ensure adequate incomes and portable benefits even for gig and informal workers; #automaticStabilizers, such as unemployment insurance and child allowances; and accessible, even mandatory, savings programs.
… Critics might argue that decoupling well-being from work would reduce people’s incentive to participate in the labor market. But experience has shown that when people have financial security, they make better employment decisions, invest in education, take entrepreneurial risks, and contribute more productively to the economy. The costs of maintaining the status quo – in the form of lost productivity, higher health-care spending, and emergency crisis responses – dwarf those of investing in universal financial well-being"
#LaborEcon #economicPolicy