Economic Security
Economic security is a term used to describe the financial stability of individuals, households, and businesses. It is a measure of how well an individual or family can meet their financial needs and maintain their standard of living. Economic security is closely linked to economic development, as it is a key factor in determining the overall health of an economy. Economic security is also closely linked to social security, as it is a measure of how well individuals and families are able to access the resources they need to live a secure and comfortable life.
History of Economic Security
The concept of economic security has been around for centuries, but it was not until the early 20th century that it began to be widely discussed. In the United States, the Great Depression of the 1930s brought economic security to the forefront of public discourse. The New Deal, a series of government programs and policies enacted by President Franklin D. Roosevelt, was designed to provide economic security to Americans by providing jobs, social security, and other forms of assistance. Since then, economic security has been an important part of the national conversation, with governments around the world taking steps to ensure that their citizens have access to the resources they need to live a secure and comfortable life.
Comparison of Economic Security
| Country | GDP per capita | Unemployment Rate | Income Inequality |
|---|---|---|---|
| United States | $59,531 | 6.3% | 0.41 |
| United Kingdom | $45,722 | 4.2% | 0.34 |
| Japan | $38,894 | 2.4% | 0.25 |
| China | $10,238 | 5.2% | 0.47 |
Summary
Economic security is a measure of how well individuals and families can meet their financial needs and maintain their standard of living. It is closely linked to economic development and social security, and is an important part of the national conversation. Governments around the world are taking steps to ensure that their citizens have access to the resources they need to live a secure and comfortable life. For more information on economic security, visit the websites of the World Bank, the International Monetary Fund, and the United Nations.
See Also
- Economic Development
- Social Security
- Gross Domestic Product (GDP)
- Unemployment Rate
- Income Inequality
- Poverty
- Financial Inclusion
- Financial Literacy
- Financial Planning
- Financial Stability
