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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.
Initially differing very little from other industrialized capitalist countries, the state's role in providing comprehensive welfare and infrastructure expanded after the Second World War until reaching a broadly social democratic consensus in the 1950s which would become known as the social liberal paradigm, [4] which was followed by the ...
These tables are lists of social welfare spending as a percentage of GDP compiled by Organisation for Economic Co-operation and Development ("OECD") into the OECD Social Expenditure Database which "includes reliable and internationally comparable statistics on public and mandatory and voluntary private social expenditure at programme level."
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.
The Rise of Welfare Capitalism From the last two decades of the 19th century to the start of World War II, "welfare capitalism" was part of this country's economic landscape. There was never a ...
Social democracy currently depicts a chiefly capitalist economy with state economic regulation in the general interest, state provision of welfare services and state redistribution of income and wealth. Social democratic concepts influence the policies of most Western states since World War 2. [37]
In world-systems theory, core countries are the industrialized capitalist and/or imperialist countries. Core countries control and benefit the most resources from the global market . They are usually recognized as wealthy states with a wide variety of resources and are in a favorable location compared to other states.
Capitalism 2.0 during the post-World War II years entailed Keynesianism, a substantial role for the state in regulating markets, and strong welfare states; Capitalism 2.1 entailed a combination of unregulated markets, globalization, and various national obligations by states.