Question #2627e

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Sim W.
Jun 7, 2017

The Welfare State

Explanation:

The Welfare State consists in state intervention in the economy. It was introduced in the 1930s and 1960s with the New Deal and the Great Society. It is based on stimulating consumption in order to create new markets for companies and help the economy recover. It was inspired by the economic thought known as Keynesianism, it claims that money should be redistributed from the rich to the poor in order to stimulate consumption.

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