What is Social Protection?

Welfare

“Welfare can be interpreted in one way in a person’s everyday life perspective, and another when looking at it at the societal macro level. “Welfare” has also seemingly a different connotation depending on whether one understands it from a mainly economic or mainly sociological perspective (...). Welfare can be related both to the individual and to the collective and involve material as well as immaterial needs. (...) Individual welfare refers to the micro level and how utility can be maximised by choices made by the individual. Social welfare refers to the sum of all individual welfare in a society.”

Source: Greve, B. 2008. "What is welfare?". Central European Journal of Public Policy, v.2, n.1., p.50-72. <http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.879.5745&rep=rep1&type=pdf>. Accessed 17 April 2020.