Welfare capitalism
From The Art and Popular Culture Encyclopedia
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Welfare capitalism is capitalism that includes social welfare policies. Welfare capitalism is also 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.
Today, welfare capitalism is most often associated with the models of capitalism found in Central Mainland and Northern Europe, such as the Nordic model, social market economy and Rhine capitalism. In some cases welfare capitalism exists within a mixed economy, but welfare states can and do exist independently of policies common to mixed economies such as state interventionism and extensive regulation.
See also
- Christian democracy
- Company store
- Company town
- Criticisms of welfare
- German model
- Nordic model
- Rhine capitalism
- Social capital
- Social market economy
- Social welfare
- Types of capitalism
- Welfare state
- Workplace democracy
