Abstract
<jats:p>Social policy discourse in Germany is often dominated by the perception that welfare measures primarily constitute a financial burden. Challenging this view, Fabian Mushövel and Anton Hemerijck argue in “Education as Investment” that contemporary social policy should instead be understood through the lens of social investment. From this perspective, targeted public spending—particularly in areas such as education and human capital development—is not merely redistributive but can generate substantial long-term economic returns. By enhancing individuals’ skills, productivity, and participation, social investment policies contribute to sustainable growth and societal resilience, reframing welfare spending as a strategic and future-oriented investment.</jats:p>