The social safety net as an investment in children

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Contributor(s): Professor Hilary Hoynes | Join us for the Department of Social Policy’s Annual Lecture at which Hilary Hoynes will explore the concept of viewing the social safety net as a long-term investment in children. Traditionally, economic research has emphasised the incentive effects of tax credits and transfer programs, often neglecting their potential benefits, particularly for children. Hoynes will review a growing body of evidence showing that childhood access to programs like food stamps, the EITC, and Medicaid leads to significant improvements in health, education, earnings, and reduced criminal justice involvement in adulthood. Using cost-benefit analyses like the Marginal Value of Public Funds (MVPF), Hoynes argues these programs often pay for themselves over time. She concludes that understanding these long-term benefits is crucial to shaping effective policy and reimagining the safety net as a strategic societal investment.