Why Did Government Initiate the Welfare State? What Factors Have

question 60

Essay

Why did government initiate the welfare state? What factors have contributed to its growth?

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Definitions:

Kodak

A technology company historically known for its significant contributions to photography and imaging industries through the development of photographic films and cameras.

Industrial Capitalism

Economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Commercial Capitalism

An economic system where trade, goods, and capital are privately controlled and operated for profit, characterized by the emergence of market economies and merchant classes.

Trust

Refers to the firm belief in the reliability, truth, ability, or strength of someone or something.