Conclusion: Globalization, Welfare, and Aging

Every nation state across all corners of the globe has been experiencing the most formidable structural, economic climate since the 1930s. One of the central causes of global financial instability has been transnational financial institutions and lack of regulation for consumer populations in different nation states. It is not just financial institutions but also nation states. For example, in 2024, the Ukrainian government has turned to Europe to help stimulate its economy (with 100 billion euros loan); otherwise, it would be at risk for with its current war with Russia which would then have ripple effects for other EU economies linked through economic harmonization, such as potential EU country memberships of the Euro—which would dramatically lose its value in the global economic market if the international economies were not propelled by support from other EU countries. President Biden has recognized the potential instability that Ukraine could potentially have on the US economy; and hence, this raises questions about the wider global economy. While these problems require a global response by the international community and political leaders, they also require a response and engagement by social scientists. Historically, there have been a number of social scientists who explored how the Enlightenment and its legacy have impinged upon the emergence and creation of and social science disciplines that have attempted to explain social, economic, political, and cultural transformations in modernity.