Expertise Quote by Robert J. Shiller
“I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.”
About This Quote
Source Article: Economic Policy Review, 2023
A universal livelihood insurance could shield workers from job obsolescence, with private firms managing the scheme.
In simple terms: Insurance protects against skill obsolescence.
Key Takeaway
Support universal livelihood safety nets.
Themes
economics
labor market
social security
future of work
private sector involvement
Mood
analytical
optimistic
Type
policy
economic
When to use this quote
- career transitions
- skill retraining
- employment contracts
- government policy
Key Concepts
risk pooling
human capital preservation
Questions to Reflect On
- How would premiums be funded?
- What role should government play?
A Different Perspective
Private sector may lack incentives for universal coverage.
