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

Welfare 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.

RELATED TERMS
Cost-of-living index







Ask a Question

Learn the famous formula for money-making, based upon the THIRTEEN PROVEN STEPS TO RICHES! Get your FREE Copy & Instant Access to Think and Grow Rich by Napoleon Hill just by signing up.
 
   
Newsletter cover
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