Can the welfare state be the future of the global economy?

Abstract

The welfare state is a governing system where a state plays an important role, in order to provide economic prosperity, security to its citizens, based on the concept of equality. Citizens enjoy benefits from welfare services like education, healthcare, support for the needy, social security. Nordic countries’ economic growth and prosperity also brought this topic into consideration. How could these countries achieve economic growth? Will it be sustainable in the long-run? Can globalization or migration be obstacles for the future of the welfare states? Can Sweden avoid the future economic crisis with welfare policies? With my thesis, I will try to answer these questions. My intention is to provide empirical evidence to my theoretical hypotheses, and the Swedish case will help me to achieve these targets.