Welfare-state

The welfare state describes a state that intervenes in the market economy and plays the role not only of a liberalism framework but also constitutes a vector for economic recovery in case of crisis. It then invests in the market to stimulate the economy by ripple effect. The welfare-state is characterized notably by important nationalization policies and was a hugely favored policy model in the West between the mid-1930s and the mid-1970s.