Importance of Social Security and Ethical Business Practices

Running head: REFLECTIVE JOURNAL
REFLECTIVE JOURNAL
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Journal 1.
This week I have come across some of the very important questions that relates to ethical
policies of the welfare states. Among those I have found welfare security or social security to be
important in catering the needs of the common people of the country. Welfare or social security
is one of the most important factors for the benefit of the people with inadequate or no income.
In some countries this type of policies play essential part in the welfare strategies where the
governments provide monetary assistance to the people in need. In some cases, social security
benefits are availed by the retired employees along with their spouses. These monetary helps are
paid during their working years through the social security system that they receive social
security monthly benefits. Social security benefits are available to the persons who are
completely or permanently disabled which is rigid set of criteria issued by administration.
The welfare states of Europe and America along with other developed nations, accept the
need for support from the end of the government as well as agree that the society where persons
live must help for achieving all-inclusive growth. The society needs to work for providing most
of all the advantages regarding culture, social welfare and work that the government of the
country offer to them. Social security refers to the action programs arranged by the government
of the welfare state that intend to promote the betterment of the people of the state through
assistance measures (Rejda, 2015). These measures guarantee the access to all the needed
resources of food as well as shelter for the population. This is also added with the arrangements
for the wellbeing for the citizens at large as well as potential vulnerable segments like children,
sick, elderly and the unemployed.

2REFLECTIVE JOURNAL
Through proper research on this topic I have found out that there are various arguments
on this topic of social security as some of the socialists view this approach of providing only
monetary help to the needy persons rather than allowing them to gain the security of work and
leading a healthy lifestyle. These critics ascribe with the idea that the organizations both
governmental as well as non-governmental aiming to provide Social security through mere cash
transfers need to provide security of health, employability according to the aptitudes and proper
social participation (Feldstein, 2018). They also refer to grow capabilities to face the current
social risks such as single parenthood and reconciliation of daily life along with work.
From the analysis of requirements of social security and its benefits I have identified the
gaps of the policies and how the governments can bridge this gap of what actually is needed and
what is provided. In this aspect three most important segments can be discussed which includes
social insurance, services and basic security. Through social insurance people who need support
financially, receive services or benefits the recognition of contributions to this insurance
program. This insurance service can effectively include the provides for the people with
disabilities, retired from work and unemployed persons in the country. The government can
allow some designated agencies to arrange the provisions for the needed persons (Hastings,
Hortaçsu & Syverson, 2017). This can include financial support during unemployment of the
youth along with the retired persons, medical care during sickness, health and safety at work and
in maintaining the industrial relations. Basic security is an essential part of specific insurance
program this can assist the newly arrived refuges to meet the basic necessities like clothing, food,
education, money, housing and medical care.
To Marsh, (2018) through the research on Social security I found that the people who are
retire, unemployed, sick and refugees do not get benefits but there are other advantages of Social