[Review] What We Owe Each Other: A New Social Contract (Minouche Shafik) Summarized.

What We Owe Each Other: A New Social Contract (Minouche Shafik)

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#newsocialcontract #minimumsecurityforall #lifelonghumancapability #fairrisksharing #intergenerationalfairness #WhatWeOweEachOther

What We Owe Each Other: A New Social Contract is a work of public policy and political economy by Minouche Shafik, an economist whose career has included senior roles at the World Bank, IMF, Bank of England, London School of Economics, and Columbia University. The book examines the social contract as the set of expectations that determines what individuals owe society and what society owes individuals across the life cycle. Shafik argues that many existing arrangements were built for an earlier world of more stable families, longer-term employment, different gender roles, and less urgent environmental pressure. In her view, technological change, demographic aging, inequality, climate risk, and insecure work require a revised settlement. The book is not a utopian manifesto but a comparative, evidence-based argument for rebalancing responsibility among individuals, families, employers, communities, and the state. Its purpose is to show how societies can provide greater security, opportunity, and shared risk without abandoning market dynamism or personal responsibility.