The term "welfare capitalism" refers to
A) corporations providing employee benefits in the hope of preventing the establishment of unions.
B) the high rate of unemployment in the 1920s, when many people had to go on welfare.
C) the trade-union philosophy that the welfare of the workers should be the first concern of capitalism.
D) the federal government providing massive subsidies to select government contractors.
E) the creation of Social Security and Medicare in the 1930s.

Question

Quizplus · Accepted Answer

Welfare capitalism is a practice where companies provide benefits to their employees, such as health insurance and retirement plans, to improve worker satisfaction and to deter the formation of unions. This approach aims to address some of the workers' needs directly by the employer rather than through government intervention or collective bargaining by unions.

The Term "Welfare Capitalism" Refers to