Welfare Capitalism

Welfare capitalism is an economic system that combines a mostly capitalist economy with social welfare programs. In this system, the government intervenes to provide support such as healthcare, education, and social security, ensuring a safety net for citizens. While businesses operate for profit, welfare capitalism aims to balance economic growth with social equity, reducing poverty and promoting a better quality of life. Countries like Sweden and Germany exemplify this approach, where robust social services coexist with a free-market economy, aiming to create a more inclusive society while still encouraging individual entrepreneurship and innovation.