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Can The Welfare State Be The Future Of The Global Economy?

Author

Listed:
  • Narmin BAGHIRZADE

    (The Károly Ihrig Doctoral School of Management and Business, University of Debrecen)

Abstract

Welfare states are results of the dysfunctionality of markets. The relationship between a state and a market can decide the size and the range of a welfare state. For political and institutional economists this is a quite interesting topic, in terms of differences between economic and political institutions across the world. Starting from the Bismarckian policies, welfare states are providing people with economic development and prosperity. It took time, nearly a century, to apply all of the components of welfare states to the global economy, but in the end, it gave the fruits. Likewise, recent surveys show that these components are attractive for Europeans, for example, universal access to education, healthcare, social security, and others. Even if there are numerous theories about the retrenchment of a welfare state, on the contrary, it continues to increase and expand the range. However, will it maintain the development in the future? With the Swedish case, it can be shown that, even if this question still needs much more time and investigation, one aspect is clear: a welfare state is on a solid basement and it will continue to grow.

Suggested Citation

  • Narmin BAGHIRZADE, 2020. "Can The Welfare State Be The Future Of The Global Economy?," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 15, pages 45-55, June.
    • Handle: RePEc:cmj:networ:y:2020:i:15:p:45-55
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    References listed on IDEAS

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    1. Walter Korpi, 2000. "Welfare States, Economic Growth, and Scholarly Objectivity," Challenge, Taylor & Francis Journals, vol. 43(2), pages 49-66, March.
    2. Andreas Bergh & Martin Karlsson, 2010. "Government size and growth: Accounting for economic freedom and globalization," Public Choice, Springer, vol. 142(1), pages 195-213, January.
    3. Korpi, Walter, 2003. "Welfare State Regress in Western Europe: Politics, Institutions, Globalization and Europeanization," Working Paper Series 5/2003, Stockholm University, Swedish Institute for Social Research.
    4. Roger Congleton & Feler Bose, 2010. "The rise of the modern welfare state, ideology, institutions and income security: analysis and evidence," Public Choice, Springer, vol. 144(3), pages 535-555, September.
    5. Femke Roosma & John Gelissen & Wim Oorschot, 2013. "The Multidimensionality of Welfare State Attitudes: A European Cross-National Study," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(1), pages 235-255, August.
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    Cited by:

    1. Manuel Carlos Nogueira & Mara Madaleno, 2021. "Is the Aurora Borealis an Inspiration to the Performance of Nordic Economic Sustainability?," Sustainability, MDPI, vol. 13(17), pages 1-22, September.

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    More about this item

    Keywords

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    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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