What is welfare capitalism

Welfare Capitalism is ... As with modern capitalism, welfare capitalism began in the United Kingdom during the late 19th century at the height of the Industrial Revolution. Private sector employers needed programs that increased worker production through social welfare incentives.

capitalism characterized by a concern for the welfare of various social groupings (as workers) expressed usually through social-security programs, collective-bargaining agreements, state industrial codes, and other guarantees against insecurity.

Welfare capitalism is also the practice of businesses providing welfare services to their employees.