Economic And Social Study Assignment Help
In Economic And Social Study Assignment Help
The market research aim of this dissertation is to assess the effectiveness of Guaranteed Minimum Income (GMI) programs, a specific form of welfare package, as provided by governments in the European Union. The scope of this study conducted encompasses both economic and social consequences of these GMI programs. In pursuing this assessment, the dissertation has used the European Union’s Welfare Regime Typology(Esping-Andersen, 1990; Sapir, 2006), where four typologies are drawn; Nordic, Continental, Mediterranean, and Anglo-Saxon. These four typologies distinguish welfare systems in terms of degrees of efficiency and equity. The higher cost required to finance the GMI program limit the investment opportunities in new ventures. The study uses a qualitative approach to research analysis the issue. The data is collected from secondary sources through which four case studies are constructed; Denmark, France, Portugal, UK, each of which exemplifies the four welfare regimes. The contextualization of the GMI scheme under the European countries is done by understanding the different way of working of GMI in these four cases. The data is analyzed to assess the effectiveness of GMI in terms of its economic and social consequences by conducting the comparative analysis at two levels; first, among the four regimes with use of selected metrics;second, by comparison of the EU with the benchmark case of the USA. It is found that there are higher employment and GDP rates, and higher poverty rates too, where there is lower social expenditure by Government. This implies that a Guaranteed Minimum Income scheme considered as a standalone initiative is ineffective in its economic consequences but greatly effective in its social consequences. It is recommended that combating poverty while avoiding negative impacts on economic performance, requires some specific amendments to the policy. These include a strong monitoring system to check implementation of scheme, and devising individual schemes specifically for unemployed residents in which they should be offered opportunities to work. The research has some limitations, such as its use of only four cases based on a limited number of metrics to study GMI.