Social safety net

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Updated: Aug 20, 2021

A system of available payments in cash or in kind which will keep people’s incomes from falling below some socially accepted minimum level. This needs to cover old age, sickness and disability, and unemployment. It may include benefits in kind for people with special requirements: for example, health care, and publicly provided housing for those without the means or competence to house themselves privately.

Reference: Oxford Press Dictonary of Economics, 5th edt.



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James Knight
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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.