Social insurance programs provide a safety net for individuals from "summary" of Public Finance by Harvey S. Rosen
Social insurance programs are fundamental in providing a safety net for individuals in society. These programs are designed to protect individuals from economic risks that they may face throughout their lives. By participating in social insurance programs, individuals can mitigate the financial impact of unforeseen circumstances such as illness, disability, unemployment, or old age. The concept of a safety net is crucial in understanding the role of social insurance programs. A safety net is a form of protection that ensures individuals do not fall into poverty or destitution when faced with financial hardships. Social insurance programs act as a safety net by providing individuals with a source of income or assistance when they are unable to work or earn a livelihood due to circumst...
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