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The book explores the "epochal" challenges that current mechanisms for welfare financing have to face and overcome.
These challenges are common to the public pay-as-you-go, the private mutuality as well as to the private insurance pooling. The books describes and analyses the roots of the structural similarities across financing mechanisms apparently so different from each other.
These similarities imply that a reforming perspective is necessary both in Europe and in the Us. A key factor will be to be capable of counterbalancing the current over-reload on pay-as-you-go resources with the injection of sufficient real accumulation of resources.
This leads to the proposal of new instruments, the so called Welfare Funds providing for pensions and health care (acute and ltc). Welfare Funds work on a real accumulation basis, but they are connected with collective insurance policies to cover against big risks.
Abundance of data and evidence is a strong point of this book.
The analysis opens a variety of questions and of issue on which future investigation is needed. First of all, the regulatory framework in which Welfare Funds will operate, in order the get the best results from the dosage of pay-go and real accumulation.
This book is the first issue of the Welfare Reforming Books series. Stay tuned for the following issues.
BR, Nicola C. Salerno