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A social welfare model is a system of social welfare provision and its accompanying value system. It usually involves social policies that affect the welfare of a country's citizens within the framework of a market or mixed economy.
Welfare capitalism is capitalism that includes social welfare policies [1] [better source needed] and/or the practice of businesses providing welfare services to their employees. Welfare capitalism in this second sense, or industrial paternalism , was centered on industries that employed skilled labor and peaked in the mid-20th century.
The Nordic model traces its foundation to the "grand compromise" between workers and employers spearheaded by farmer and worker parties in the 1930s. Following a long period of economic crisis and class struggle, the "grand compromise" served as the foundation for the post-World War II Nordic model of welfare and labour market organization.
Social expenditure as % of GDP (). A welfare state is a form of government in which the state (or a well-established network of social institutions) protects and promotes the economic and social well-being of its citizens, based upon the principles of equal opportunity, equitable distribution of wealth, and public responsibility for citizens unable to avail themselves of the minimal provisions ...
The Three Worlds of Welfare Capitalism is a book on political theory written by Danish sociologist Gøsta Esping-Andersen, published in 1990.The work is Esping-Andersen's most influential and highly cited work, outlining three main types of welfare states, in which modern developed capitalist nations cluster.
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [ 1 ] The principles of welfare economics are often used to inform public economics , which focuses on the ways in which government intervention can improve social welfare .
The Mediterranean model corresponds to southern European countries who developed their welfare state later than the previous ones (during the 1970s and 1980s). It is the model with the lowest share of expenditures and is strongly based on pensions and a low level of social assistance.
The welfare model has been rooted in Western developmental practices since the 20th century. [9] In the welfare model, poverty is defined as the absence of a public good or knowledge. If the state or another vehicle, such as an NGO, provides the absent good, then poverty can be alleviated and development will occur. [9]