What is the correct meaning for the term welfare capitalism

Welfare capitalism is capitalism that includes social welfare policies.

It's a kind of capitalism that is worried about the social welfare of the social groups (the workers). To support these groups, this type of capitalism usually creates programs and social guarantees such as medical assistance, better wages, allowance, and several other programs.

Explanation:

This capitalism is also known as the welfare state. To work properly, it's necessary to ensure equal opportunities for citizens and the fair distribution of wealth. Also, the state is responsible for individuals who are unable to live a decent life through the distribution of grants, grants, concessions, and other measures.