Abstract:The modern welfare state, which was created in the long economic expansion of the post‐World War II era, funded benefits that provided income security across the life course. In the 1970s, the era of welfare state expansion slowed due to rising deficits and fiscal strains associated with population aging. In recent decades benefit reductions have become commonplace. Theories designed to explain the formation of welfare state include the logic of industrialism, power resource theory, and the theory of welfare s… Show more
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