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Investments glossary

Welfare State

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Quotes of the day:

To keep a lamp burning we have to keep putting oil in it.

— Mother Teresa

Welfare state refers to a type of governing in which the national government plays a key role in the protection and promotion of the economic and social well-being of its citizens. A welfare state is based on the principles of equality of opportunity, equitable distribution of wealth, and public responsibility for those unable to avail themselves of the minimal provisions of a good life. Social Security, federally mandated unemployment insurance programs, and welfare payments to people unable to work are all examples of the welfare state.



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