Economic security

"For financial securities such as stocks and bonds, see security (finance)"

Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. It includes
* probable continued solvency
* predictability of the future cash flow of a person or other economic entity, such as a country
* employment security or job security

Financial security more often refers to individual and family money management and savings. [ [http://www.csrees.usda.gov/nea/economics/fsll/fsll.html Financial Security in Later Life ] ] [ [http://www.gao.gov/new.items/d08105.pdf GAO-08-105 Retirement Security: Women Face Challenges in Ensuring Financial Security in Retirement ] ] Economic security tends to include the broader effect of a society's production levels and monetary support for non-working citizens.

Components of individual economic security

In the United States, children's economic security is indicated by the income level and employment security of their families. [ [http://www.childstats.gov/americaschildren/eco.asp Childstats.gov - America's Children: Key National Indicators of Well-Being 2007 - Economic Circumstances ] ] Economic security of people over 50 years old is based on Social Security benefits, pensions and savings, earnings and employment, and health insurance coverage. [ [http://www.aarp.org/research/reference/statistics/Articles/aresearch-import-298.html Beyond 50: Summary Tables and Charts ] ]

In 1972, the state legislature of Arizona formed a Department of Economic Security with a mission to promote "the safety, well-being, and self sufficiency of children, adults, and families". This department combines state government activities previously managed by the Employment Security Commission, the State Department of Public Welfare, the Division of Vocational Rehabilitation, the State Office of Economic Opportunity, the Apprenticeship Council, the State Office of Manpower Planning, and the State Department of Mental Retardation. [ [https://egov.azdes.gov/cmsinternet/main.aspx?id=114 About DES ] ]

The Minnesota Department of Economic Security was formed in 1977 from the departments of Employment Services and Vocational Rehabilitation, the Governor's Manpower Office, and the Economic Opportunity Office, which administered anti-poverty programs. In 1985, State Services for the Blind was included in this department. In 2003, the Minnesota Department of Economic Security and Minnesota Department of Trade and Economic Development were merged to form The Minnesota Department of Employment and Economic Development. [ [http://www.deed.state.mn.us/agency/history.htm DEED History ] ]

Economic security of countries

Economic security has been proposed as a key determinant of international relations, particularly in the geopolitics of petroleum in American foreign policy after September 11, 2001. [cite book| last=Rupert |first=Mark |title=International Relations Theory |publisher=Oxford University Press |date=2007 |location=Oxford |isbn=unknown]

In Canada, threats to the country's overall economic security are considered economic espionage, which is "illegal, clandestine or coercive activity by a foreign government in order to gain unauthorized access to economic intelligence, such as proprietary information or technology, for economic advantage." [ [http://www.csis-scrs.gc.ca/en/newsroom/backgrounders/backgrounder06.asp Backgrounder No. 6: Economic Security ] ]

Other

It is widely believed that there is a tradeoff between economic security and economic opportunity.Fact|date=October 2007

Notes and references


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • economic security — financial assurance, economic strength …   English contemporary dictionary

  • Business for Economic Security, Tourism and Trade — BESTT ( [http://www.BESTTCoalition.com] ) is an international coalition of businesses and trade associations from across the United States and Canada who share a common concern about the ramifications of the Western Hemisphere Travel Initiative… …   Wikipedia

  • Economic policy of Barack Obama — Main article: Political positions of Barack Obama Barack Obama s current economic advisors are Austan Goolsbee of the University of Chicago and Jeffrey Liebman of Harvard University.[1] In 2006, Obama wrote: We should be asking ourselves what mix …   Wikipedia

  • Economic history of Nigeria — Colonialism is a major feature of the economic history of Nigeria. Britain eventually gained control of Nigerian administration. After independence, the Nigerian economy seemed very promising. Many saw Nigeria, with 25% of Africa s population, as …   Wikipedia

  • Economic Opportunity Institute — The Economic Opportunity Institute (EOI) is a nonpartisan, not for profit public policy organization founded in 1998 and based in Seattle, Washington.EOI utilizes research, education and advocacy to shape public policy debate and promote new… …   Wikipedia

  • Economic Bill Of Rights —    In his State of the Union Address to Congress on 11 January 1944, President Franklin D. Roosevelt called for measures to provide a second bill of rights offering U.S. citizens economic security in the postwar world. The principles he outlined… …   Historical Dictionary of the Roosevelt–Truman Era

  • Security and Prosperity Partnership of North America — Location map: Member countries:  Canada …   Wikipedia

  • Security of person — or security of the person is a human right guaranteed by the Universal Declaration of Human Rights, adopted by the United Nations in 1948. It is also a right respected in the Constitution of Canada, the Constitution of South Africa and other laws …   Wikipedia

  • Security engineering — is a specialized field of engineering that focuses on the security aspects in the design of systems that need to be able to deal robustly with possible sources of disruption, ranging from natural disasters to malicious acts. It is similar to… …   Wikipedia

  • Economic sanctions — are domestic penalties applied by one country (or group of countries) on another for a variety of reasons. Economic sanctions include, but are not limited to, tariffs, trade barriers, import duties, and import or export quotas.Economic sanctions… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”