Критический обзор концепции социального инвестирования

Журнал исследований социальной политики. 2024. Т. 22. № 1. С. 171–181.

Mironova A. A.

The article is devoted to the critical analysis of the social investment concept as the basis of social policy. Within the framework of the social investment concept the focus of social policy has to be changed from "passive" protection of citizens from the various risks associated with the inclusion in labor market to "active" support of citizens to expand their opportunities for integration into the labor market. According to the social investment concept, social policy should be aimed at investing in human capital, it allows citizens to maximize their labor potential in the labor market. On the one hand, a policy based on the social investment concept has undeniable advantages. Thus, high citizens’ involvement in labor activity is an effective way to maintain income and ensure social integration. In addition, the high level of citizens’ employment reduces the need for state benefits and contributes to the sustainability of the welfare State. At the same time, the concept of social investment has drawbacks. The analysis of the available research on the policy of social investment allowed us to identify four main points of criticism of this concept: excessive burden of individual responsibility; limited effectiveness of investments in human capital; limitation of the applicability of social policy based on the social investment concept; the problem of social integration through the labor market for disabled citizens. The highlighted limitations of the social investment concept are largely related to the continuing significance of belonging to a social class in explaining social inequality. Studies show that the social risks that cause poverty are socially stratified in all welfare states. Given this, social investment should not be considered as a comprehensive model of social policy. Social policy should not be limited only by social investment. Social investment should be complemented by social protection.

Keywords: социальная политика, social policy, государство всеобщего благосостояния, welfare state, social support, социальная поддержка, social investments, инвестиции в человеческий капитал, социальное инвестирование, investment in human capital

Publication based on the results of: Transformation of the living standard and quality of life of various social groups in changing macroeconomic conditions (2023)