InvestorDictionary.com
HomeDictionaryCategoriesBooks
Search for Terms:  
Browse by Category:  
Browse:  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  # 

Welfare

What's the definition?

Welfare, economically speaking, refers to money paid by the government to persons who are in need of financial assistance, but who are unable to work, or whose circumstances mean the income they require for basic needs is in excess of their salary (e.g. tax credits for working mothers). The sum paid usually gives an income well below the poverty line, and it usually also has conditions attached, such as the need to prove one is searching for work or that there is some condition, such as a disability or obligation to care for children, that prevents them from working. In some cases recipients are even forced to do work, and this is often known as workfare. A universal welfare system is a standard component of socialism or systems heavily influenced by socialism.







The infomation above is licensed under the GNU Free Documentation License and is derived from The Free Encyclopedia.com
Cost-of-living index


Browse:  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  # 
The Financial Ad Trader
Copyright © 2008 InvestorDictionary.com - All rights reserved.