Social democratic capitalism
In: Oxford scholarship online
In: Political Science
What configuration of institutions and policies is most conducive to human flourishing? The historical and comparative evidence suggests that the answer is social democratic capitalism - a democratic political system, a capitalist economy, good elementary and secondary schooling, a big welfare state, pro-employment public services, and moderate regulation of product and labour markets. Lane Kenworthy shows that this system improves living standards for the least well-off, enhances economic security, and boosts equality of opportunity.