Social Equalizer Definition in Economics: Understanding the Concept

In economics, a social equalizer is a concept that refers to factors or mechanisms that help reduce economic disparities between individuals or groups within a society. These equalizers can be institutional, cultural, or technological in nature and aim to promote fairness, equity, and social justice.

The concept of social equalizers is particularly relevant when it comes to understanding precarity in later life. As people age, they often face increased risk of poverty, social isolation, and vulnerability due to factors such as retirement, declining health, and limited access to resources. However, by implementing socially just economic strategies, policymakers can help mitigate these risks and promote resilience among older adults.

For instance, healthcare providers can play a crucial role in engaging elders with substance use disorder (SUD) in treatment programs, recognizing that SUD is a critical health issue for older adults. Similarly, social services organizations can develop tailored recovery models for specific populations, such as Alaska Natives or aging veterans, to address the unique challenges they face.

Innovative technologies can also be leveraged to improve behavioral healthcare for older adults, particularly in settings like post-acute care facilities where patients may be more likely to have SUD. Additionally, primary care practitioners can receive training on how to address alcohol and opioid use among older adults, recognizing that these substances can have devastating consequences when misused.

Ultimately, promoting social equalizers in economics requires a multifaceted approach that acknowledges the complexities of precarity in later life. By working together across sectors – healthcare, social services, technology, and policy – we can create a more equitable society that prioritizes the well-being and resilience of older adults.

Social equalizer definition economics