Social security trends and developments in industrialized countries

In the industrialized countries, there has been much discussion on the short- and long-range financing problems of their social security programs. Prolonged unfavorable economic conditions triggered by the oil price shocks of the 1970's and negative demographic trends have caused many of these countries to adapt their social security programs in an effort to maintain financial stability. System modifications that have occurred abroad over the past 10 years have centered primarily on changes in financing, adjustments for inflation, measures to slow down increases in health care expenditures, and steps to promote the hiring of the unemployed. This article examines some of the significant changes that have taken place in the social security programs of the Western European countries, Australia, Canada, Israel, and Japan since 1971.