The Investment State: Charting the Future of Social PolicyHistorically, the welfare state of the 20th century, which was built on the foundation of an industrial economy, seems poorly adapted to a 21st century information age. Socially, profound demographic shifts especially an aging population, increasing numbers of women in the labor force, and surging immigration pose challenges for traditional programs. Economically, the legacy of social entitlements, which has been addressed through deficit spending, is