welfare capitalism

noun

Definition of welfare capitalism

: capitalism characterized by a concern for the welfare of various social groupings (as workers) expressed usually through social-security programs, collective-bargaining agreements, state industrial codes, and other guarantees against insecurity

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First Known Use of welfare capitalism

1924, in the meaning defined above

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The first known use of welfare capitalism was in 1924

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Cite this Entry

“Welfare capitalism.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/welfare%20capitalism. Accessed 24 January 2020.

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