Social security/protection in South Africa

And what has been highlighted by the Covid-19 pandemic.

Social security systems have evolved globally as a principal corrective to the distributional forces of market economies and other forms of private action. While markets and self-organisation of various forms are central to the healthy functioning of modern societies, they routinely generate harmful external effects.

On the positive side, markets and self-organisation reward innovation and enterprise. On the negative side, they can institutionalise structural winners and losers in society with resulting unfair distributions of social risk, incomes and assets. If not addressed the resulting social harms become embedded into the social fabric.

Read the full paper here: Social Protection