Welfare Capitalism Essay

The goal of this research was to examine the concept capitalism, and more specifically welfare capitalism. This form of capitalism has been extremely successful in European Countries and other nations. However, it has been looked down upon in other economic powerhouse countries such as the United States. To illustrate the positive effects of this economic system, the era of early welfare capitalism in the 19th Century Industrial Revolution is discussed, as well as the period post World War II.
This paper examines the concepts of capitalism and welfare capitalism in hopes of showing that the strengths of a welfare capitalist economy far outweigh that of a standard capitalist society. To dive deeper into the two concepts, both capitalism and welfare capitalism, were defined, compared, and contrasted. The history of social welfare and organizations including NAFTA and OECD were discoursed.
The social, political, and business implications of welfare will also be observed in how they have a direct impact on the economic and cultural success of a nation. To illustrate the influences that capitalism and welfare capitalism have on these different sectors, the impacts of each were discussed and examined, as well as the degree of influence on different
The population that makes up the capitalist class almost dictates the state of the economy since they employ the working class. This is obviously not taking into consideration other impacting factors including politics, environment, or climate etc. The working class is obliged to work for a living or be dependent upon someone else that is a working individual. Otherwise they will rely on government subsidies, or social welfare. (“What is capitalism?”