Jóléti állam
Welfare state

Keynes and state ownership

Summary/Abstract: In the developed countries of Europe, state ownership expanded in several waves after World War II, when various types of “Keynesian welfare states” emerged. This paper raises the question of whether the theory of Keynes and the theories of the welfare state give sound fundamentals for taking private firms into state hands. The non-exhaustive analysis of related conservative, social democratic and academic approaches conclude that nationalization started without any theoretical background. The process was boosted only by the general expansion of state interventions, justified by Keynesian principles.

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