Social Democracy

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  • Social democracy
    • This supports a broad balance between CAPITALISM and STATE INTERVENTION
      • As result of accepting capitalism, it is seen as betrayal.
    • Key goal is to 'humanise' capitalism, based on economic efficiency/
    • Also aims to endure socialist belief in equality and social justice.
    • There are 3 types of social democracy
      • Mixed economy
        • Economy made up of nationalisation (public industry) and privatisation.
          • Atlee nationalised coal, gas, steel, railways and electricity etc.
      • Economic management
        • Where the economy is managed by the govt (John Maynard Keynes)
          • Public spending stimulates growth of full employment.
            • Known as KEYNESIANISM
      • Comprehensive social welfare
        • This is where Atlee's welfare state was expanded based on the Beveridge Report
          • Brought about the NHS: 'Cradle to the grave; protection.

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