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Welfare capitalism was the response of the West to remedy what many perceive as shortcomings of Capitalism . In the 19th and early 20th Centuries , the economies of the United States and many Western European countries grew exponentially. However, the established Wealth for the few elite was contrasted to 18-hour workdays, no Minimum Wage , child labor, and dangerous working conditions for the lower social classes. The response to these perceived problems by the West was Welfare capitalism. Government stepped in to temper capitalism as workers gained political pressure. In the 1930s and 1940s , during the Great Depression , governments created "safety nets" for the citizens, like public welfare and Unemployment Insurance and established many regulations on all aspects of the economy. Anti-trust Law s were enforced, laws outlawing child labor, minimum wage laws, and laws limiting the workday were put into place. The countries of Western Europe , Scandinavia ( Norway and Sweden ) and also Canada are three chief regions with the most Welfare State provisions, though other countries have Socialized Medicine and other elements of welfare-capitalism as well. The United States , despite its Medicare, Medicaid and Social Security provisions, is not generally considered to have enough of a social safety net to properly be called a welfare-capitalist country. REFERENCE Esping-Andersen released the book 'The Three Worlds of Welfare Capitalism' in 1990, in which he categorised three different types of Welfare State . Though increasingly criticised, these classifications remain the most commonly used in distinguishing types of modern welfare states, and offer a solid starting point in such analysis. The three different types are the ' Social Democratic' Model, as exemplified by the Scandinavian countries and particularly Sweden ; the ' Liberal ' Model, often related to the USA , but also Canada , Australia and increasingly the United Kingdom ; and thirdly, the ' Conservative ' Model, which is indicative of Germany , as well as France , Austria and Italy . SEE ALSO
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