Social Protection in a Globalizing World

The instruments used in market economies by governments, in their attempt to enhance the protection of individuals through governmental actions, are essentially three: (a) public programs supported by public spending; (b) “tax expenditures”; and (c) various forms of regulation. In this paper, I will discuss the use of these instruments in promoting social protection. I will then assess the impact that globalization, in all its manifestations, might have on these instruments.