Welfare capitalism refers to capitalist economies that involve a comprehensive social welfare policy in the form of a welfare state, where the welfare state is predominantly financed through taxes levied on privately-owned enterprises or through income taxes. Alternatively, welfare capitalism refers to the practice of businesses providing welfare services to their employees. Welfare capitalism in this second sense, or industrial paternalism, was centered in industries that employed skilled labor and peaked in the mid-20th century.
Although European welfare capitalism is often associated with mixed economies, welfare states can and do exist independently of the economic policies associated with mixed economies, such as state interventionism, regulation and macroeconomic stabilization policies.
Read more about Welfare Capitalism: Modern Welfare Capitalism, History, Anti-unionism, Efficacy
Famous quotes containing the words welfare and/or capitalism:
“I have great faith in ‘ordinary parents.’ Who has a child’s welfare more at heart than his ordinary parent? It’s been my experience that when parents are given the skills to be more helpful, not only are they able to use these skills, but they infuse them with a warmth and a style that is uniquely their own.”
—Haim Ginott (20th century)
“The first rule of venture capitalism should be Shoot the Inventor.”
—Richard, Sir Storey (b. 1937)