Economics

What We Owe Each Other: A New Social Contract for a Better Society

What We Owe Each Other: A New Social Contract for a Better Society

  • Downloads：5351
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2021-07-10 07:51:43
  • Update Date：2025-09-06
  • Status：finish
  • Author：Minouche Shafik
  • ISBN：0691204454
  • Environment：PC/Android/iPhone/iPad/Kindle
  • Download

Summary

From one of the leading policy experts of our time， an urgent rethinking of how we can better support each other to thrive



Whether we realize it or not， all of us participate in the social contract every day through mutual obligations among our family， community， place of work， and fellow citizens。 Caring for others， paying taxes， and benefiting from public services define the social contract that supports and binds us together as a society。 Today， however， our social contract has been broken by changing gender roles， technology， new models of work， aging， and the perils of climate change。

Minouche Shafik takes us through stages of life we all experience--raising children， getting educated， falling ill， working， growing old--and shows how a reordering of our societies is possible。 Drawing on evidence and examples from around the world， she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society。 But we owe each other more than this。 A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential。 What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies， supports and invests more in each other， and expects more of individuals in return。

Powerful， hopeful， and thought-provoking， What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society--together。

Download

Reviews

Sarah ，

On Martin Wolf's summer reading list: https://pca。st/episode/1dc857a8-3838-。。。 On Martin Wolf's summer reading list: https://pca。st/episode/1dc857a8-3838-。。。 。。。more

João ，

Nice introduction to basic concepts about the social contract。 The author has a very reasonable view on the ideal versions of a future social contract。 Throughout the book I felt that it was superficial and I would have liked to see a lot of comments much more developed。 The book also quotes a lot of studies and data which are not described in the main text。 Only after finishing it did I notice that the footnotes are all at the end of the book。 I thought they were just citations， initially， so t Nice introduction to basic concepts about the social contract。 The author has a very reasonable view on the ideal versions of a future social contract。 Throughout the book I felt that it was superficial and I would have liked to see a lot of comments much more developed。 The book also quotes a lot of studies and data which are not described in the main text。 Only after finishing it did I notice that the footnotes are all at the end of the book。 I thought they were just citations， initially， so that's on me。 I would recommend that you go over them， if you are also feeling that you would like to dig deeper。 I would have prefered if the footnotes were on the pages where they were referenced， instead of at the end of the book。The book is quite short。 I don't really know why the font is so large and why they published it in hardcover。 I would wait for a cheaper version， because it is not worth 25 EUR。 。。。more

Elspeth ，

This book was a lot more exciting than I expected。 Imagine writing a book where Ursula von der Leyen gives a quote for the blurb！ It's accessible and pace-y but still full of graphs and robust evidence。 There are also some softer touches reference to Lewis Caroll's 'jam every other day' 'jam yesterday and jam tomorrow but never today' to illustrate the need to sometimes live in the moment rather than tear up the past or fear the future。 It reframes the social contract as not just about being tol This book was a lot more exciting than I expected。 Imagine writing a book where Ursula von der Leyen gives a quote for the blurb！ It's accessible and pace-y but still full of graphs and robust evidence。 There are also some softer touches reference to Lewis Caroll's 'jam every other day' 'jam yesterday and jam tomorrow but never today' to illustrate the need to sometimes live in the moment rather than tear up the past or fear the future。 It reframes the social contract as not just about being told what to do or governments also about culture， family， emotions。 It breaks down the idea of taxes taking from the rich to give to the poor but more as essential for everyone to budget for the most expensive times of life for healthcare， education， social support - childhood and older age。 There are lots of talking points and gems and also some factors I hadnt expected but will further consider in the future such as the import of development 0-3 years - need to invest pre-school education。 Lifelong learning not just as evening classes but re-training within jobs。 Investment in education improves personal and societal wealth at all ages。 Andragogy = leading adults。The chapters follow logical topics and discuss sometimes taboo topics like extended waiting times for hospital treatment sometimes working in favour of state healthcare by convincing those wealthy enough to use private sector。 Proportionally raising retirement age in line with increasing life expectancy is practiced across many countries and is set to continue。 Shafik name-drops trips she has been on across the world。 She certainly celebrates some countries doing really well but it is a celebration of the world as trying differently to achieve the same goal。 The Nordics are plugged heavily but there's also a smattering of bright ideas from lesser celebrated nations。 It's often fascinating to see how two seemingly different countries may share the same stance eg Germany and Japan with compulsary private care insurance。 I'm already far less astute and concise that the words of the book but urge everyone to read it for societal reframing as well as dinner party chat！ 。。。more

Yossi ，

…a must read for thinking people everywhere and especially in rich democracies and among people who can effect public policies。 I don’t give many books five stars here but this book deserves them。 It’s not an exaggeration to say that the future course of humanity depends on people and leaders thinking and acting in ways outlined in this book rather than following other less effective paths。 Main takeaway if the book - the world is not a zero-sum game and there is so much that we can still do to …a must read for thinking people everywhere and especially in rich democracies and among people who can effect public policies。 I don’t give many books five stars here but this book deserves them。 It’s not an exaggeration to say that the future course of humanity depends on people and leaders thinking and acting in ways outlined in this book rather than following other less effective paths。 Main takeaway if the book - the world is not a zero-sum game and there is so much that we can still do to make the world a better place is we have the wisdom and the will to do so。 Second takeaway for democratic countries - much depends on young people voting more often and in higher numbers！ 。。。more

Mariana Monteiro ，

A must read given the turning-point in history we find ourselves at。 Minouche collects and summarises in 200 pages a long list of research， key findings and ways forward in areas such as children， education， work， retirement， health and many others。 Minouche did a good job in showing how failures in one area of our social contract spillover to many other areas and make us worse of as society。She proposes a fairer and more equitable social contract， not through the increase of the welfare state a A must read given the turning-point in history we find ourselves at。 Minouche collects and summarises in 200 pages a long list of research， key findings and ways forward in areas such as children， education， work， retirement， health and many others。 Minouche did a good job in showing how failures in one area of our social contract spillover to many other areas and make us worse of as society。She proposes a fairer and more equitable social contract， not through the increase of the welfare state and income redistribution alone， but rather by structural reforms and new regulations that focus on investing in people （from early childhood on）， giving them opportunities， making companies more accountable and building a new system of risk sharing to increase overall well-being。Despite a bit skeptical on how much of that can actually be achieved over the next years， in an idealist world， Minouche did a great work on proposing tangible ways to go that should at least guide and inform our political debate and aspirations。 As I said， a must read as we find ourselves in a critical juncture where the opportunity and space for change was created by the pandemic。 This is a book that will open your eyes to the key areas of our contract that need urgent reform - even if you were unaware。 She call us out to develop a ‘social contract that delivers better architecture of both security and opportunity for everyone， a social contract that is less about ‘me’ and more about ‘we’， recognises our interdependence and uses it for mutual benefit。’ 。。。more

Erica Lutes ，

REALLY enjoyed seeing the differences between the EU/US/UK/Asia etc

Alex Bond ，

Shafik encaptures with statistics the current ailments of global society; although nothing an informed reader wouldn't already know。 Well written and laid out， but no new novel ideas。 Essentially， she argues for an exportation of the current UK system， so maybe as a Brit I'm not the intended audience？ It's written from a highly London， UK （Read - LSE） centric perspective （Which isn't a judgement of relevance）。 Very much a mixed bag。A summary of salient points/arguments for my own notes， paraphra Shafik encaptures with statistics the current ailments of global society; although nothing an informed reader wouldn't already know。 Well written and laid out， but no new novel ideas。 Essentially， she argues for an exportation of the current UK system， so maybe as a Brit I'm not the intended audience？ It's written from a highly London， UK （Read - LSE） centric perspective （Which isn't a judgement of relevance）。 Very much a mixed bag。A summary of salient points/arguments for my own notes， paraphrased and added upon;Work-tWelfare state about ‘evening out’ consumption over whole life， not rich giving to poor。-tBan ‘zero hour’ contracts and instead legislate ‘minimum paid hours’？ot3% working pop UK in these contracts。otCompanies outsource to get around this， rise in 'third-party contractors'。ot7% of UK pop in gig work。-tUBI doesn’t lead to more jobs （shown to not work）。-tAI – creativity， emotional intelligence， ability to work with people will remain valued and needed skills。-tManufacturing jobs raise lower paid workers to middle class？Climate Change-t1C rise on industrial temps already。-t80% forest cover already lost globally。-t6-12m hectares lost of agricultural land each annum。-t50% of the world’s wildlife lost in last 40 yrs。-tUnsustainable overfishing spread to over 33% of the world’s fisheries。3 principles for Social Contract 1。tMinimum provided/available so everyone can live a decent life; healthcare， education， benefits of work， pension （depending on affordability overall）。2。tEveryone should contribute max they can， with most opportunities given to do so， such as our current system。3。tProtection against certain risks （Benefit system）。Taxes/Marriage/Family-tMaternity leave and high-quality childcare = more productive economy。-tCan force paid paternity leave to involve them more （3 months paid for each parent， then 3 months to share）。-tTax married couples as individuals to encourage full participation in the workplace， contributing to system max。-tLong holidays， do they make sense？ Spilt up school year。Schooling/Education-tNeed for early learning of how to learn。-tIdea of under 4’s needing education too。-tFunds provided for reskilling more than currently。- State provision of high quality childcare needed and potentially cost effective based on returns。Old Age-tLargely supports UK current model。-tAllow flexible ‘step down’ of work without effecting pension terms， part-time， etc。-t48% of 18-34 yr olds living with parents in EU。otUSA 36%-tRobotics for caring roles。 ot‘Cells’ of social groups and mental well-being。Health-tCost per quality year of life; how to judge？-tDigital provision + innovation （Increase cover + cost effective too）。-tSmoking costs $1。4T globally ot1。8% of world GDP （2012）。ot$1T of lost productivity。ot$422B in treatment costs。-tAlcohol = £600B， 1% GDP （2009）。otMidHigh income countries。-tObesity = $5。1B in UK every year。otWider societal cost = $25B-tSmoking = $2。5B per yr UKotSocietal cost = $11B。-tAlcohol = $52 UKot$3B on NHS*Lifestyle Diseases*If every country raised taxes on; alcohol， tobacco， sugary beverages。-t50m premature deaths prevented。ot+20% production revenue。tPresumed consent works best on uptake。Generations-tRestoring populations of whales  same as planting 2B trees。-tMinister for Future Generations （Wales） otFor representing unborn generations。New Social Contract-tWe live in separate generational societies。-tNeed for collective approach， shared。-tWealth tax （say 2-3% per yr）。otPenalise those holding wealth in low productivity activities。tImproves economic growth and inequality。-tMake ‘fads’ （smoking/drinking/etc） pay for themselves。-tPro-Rata benefits to disincentivize zero-hour economy。-t40% of multinational companies shift profits into tax havens。otIn UK 50% of multinational subsidiaries report zero profit。otAmerica is worse。-tSo tax not by where HQ or ‘based’， but by where operating profits gained。otBan the use of Copyright royalties by making it illegal to sell more than ‘x’ amount of product under value， outside of promotion （Sales in territory）。-tIMF estimates $500-600B corporate tax lost each year。otDeveloping countries hit hardest in relative terms。-t$8。7-36T， $200B lost each yr。 。。。more

Dannii Elle ，

This non-fiction title brought together numerous sources and collected data， which together allowed the reader to understand why our current societies are failing and to view a proposed vision of the future in which they， and the individuals within them， thrive。The introduction sold me on this book's contents and it proved to be my favourite part of this book。 Each following chapter provided an in-depth insight to each social matter it had touched upon and it proved a little repetitive， especial This non-fiction title brought together numerous sources and collected data， which together allowed the reader to understand why our current societies are failing and to view a proposed vision of the future in which they， and the individuals within them， thrive。The introduction sold me on this book's contents and it proved to be my favourite part of this book。 Each following chapter provided an in-depth insight to each social matter it had touched upon and it proved a little repetitive， especially when some of the numbers or details of what was proposed became lost to me as I moved onto the next section。 I appreciated Shafik's desire for change and understood the alterations stated， however， I ultimately found that the book's general overview sold me but， unfortunately， that I would rather have ingested the information in a single essay， podcast， or video format， instead of throughout a full book's length。 。。。more

Cynthia Maggard ，

A surprisingly easy read， outlining solutions to fix what ails us politically， socially， environmentally and economically。 A must-read for anyone dismayed by our current predicament。

Anna P ，

Very introductory and accessible， it could be interesting for someone who has not followed discussions on social matters but provides no new ideas

Georgia Kaufmann ，

The Economics of Hope OR Be Kind: You Know It Makes SenseI had just finished listening to Barack Obama’s latest book and was depressed looking around at the failing Populist governments led by the likes of Bolsonaro， Trump and Johnson putting the economy first and failing their countries I could not see how we could ever get to Obama’s Promised Land。 And then I read/listened to Minouche Shafik’s What We Owe Each Other and it has given me hope。Shafik has accomplished a difficult feat。 She has wri The Economics of Hope OR Be Kind: You Know It Makes SenseI had just finished listening to Barack Obama’s latest book and was depressed looking around at the failing Populist governments led by the likes of Bolsonaro， Trump and Johnson putting the economy first and failing their countries I could not see how we could ever get to Obama’s Promised Land。 And then I read/listened to Minouche Shafik’s What We Owe Each Other and it has given me hope。Shafik has accomplished a difficult feat。 She has written a book about economic policy that – for someone whose eyes glaze over normally at the slightest mention of economics – is translucently clear， comprehensible and makes a forceful case for a different approach to the economic challenges facing the world as we emerge from the pandemic。With a career spanning many countries and international and national institutions， Shafik has the experience and vantage point few can boast。 Following the costs， demands and needs of the services and gains of the economy from the cradle to the grave – taking children， education， health， work， old age and intergenerational dependence – she makes a forceful argument for reformulating the social contract。 Not out of her strong sense of social justice， but out of economic logic she shows repeatedly that when society looks after and invests in its greatest resource， its people， then everyone fares better。 Armed with global comparative data， she shows again and again， that it pays for society to invest， to educate， to use the untapped potential of the poor， of women， and provides ample evidence of how economies flourish the more they invest through initial education and continued adult education， in better welfare and health care， shielding people from poverty and infirmity。 She illustrates how common assumptions about how families and people live are out of date， how the flow of work and intergenerational care （unpaid work in families） has shifted and these shifts need to be accommodated in a new architecture of social and economic models。 Shafik systematically examines the current working models for the provision of security， education and risk management across time and the globe， compares the costs and benefits of different solutions and approaches and evidences repeatedly that it benefits everyone， that we all profit by living in more equitable economies。 Invest in people and their productivity increases。 Care for people and they cost less。I used the hard back copy of the book to reference the illustrations and charts， but in the end invested in Minouche Shafik’s own narration。 Like listening to Michelle and Barack Obama’s own voices， it was just a pleasure to have the company of such clarity， searing intelligence and kind wisdom accompanying me as I negotiated my daily life。 An uplifting， convincing read which I hope as many policy makers as possible read。 。。。more

Reference

google book https://www.google.com/search?tbm=bks&q=What We Owe Each Other: A New Social Contract for a Better Society

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=What We Owe Each Other: A New Social Contract for a Better Society&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,What We Owe Each Other: A New Social Contract for a Better Society&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0