Understanding the inflation and social policy nexus

Béland, Daniel, Cantillon, Bea, Greve, Bent, Hick, Rod ORCID: https://orcid.org/0000-0002-1218-0809 and Moreira, Amílcar 2023. Understanding the inflation and social policy nexus. Social Policy and Society 10.1017/S1474746423000349

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Abstract

The cost-of-living crisis that began in the aftermath of the COVID-19 crisis and the attempted Russian invasion of Ukraine has major implications for social policy. In advanced industrial countries, this is the most dramatic cost-of-living crisis since the mid-late 1970s and early 1980s. In this contribution, we explore the inflation and social policy nexus to identify the nature and sources of inflation, its redistributive and policy implications, and the specific nature of the current cost-of-living crisis compared to two other recent crises: the 2008 financial crisis and the COVID-19 pandemic. Focusing on advanced industrial countries and drawing on the available scholarship about these topics, we offer the background necessary to understand the challenges facing welfare states in times of dramatically high inflation. As a way to provide broad context to the present themed section, our discussion stresses the economic, social, and political dynamics shaping social policy adaptation to inflationary pressures.

Item Type:	Article
Date Type:	Published Online
Status:	Published
Schools:	Social Sciences (Includes Criminology and Education)
Subjects:	H Social Sciences > HJ Public Finance H Social Sciences > HN Social history and conditions. Social problems. Social reform H Social Sciences > HV Social pathology. Social and public welfare
Publisher:	Cambridge University Press
ISSN:	1474-7464
Date of First Compliant Deposit:	13 November 2023
Date of Acceptance:	29 August 2023
Last Modified:	17 Nov 2024 01:45
URI:	https://orca.cardiff.ac.uk/id/eprint/163842

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