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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“Welfare capitalism.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/welfare%20capitalism. Accessed 28 May. 2022.
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Time Traveler for welfare capitalism
The first known use of welfare capitalism was in 1924
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