They ensure that a sufficient quantity and quality of labour is supplied, and at the same time help regulate the level of aggregate demand in the economy. Welfare states were created by capital at the start of the 20 th Century to meet its needs for regulation. The first National Insurance Scheme was established by Bismark in Germany – though Prussia had created something similar at the in the early 19 th Century – as part of his top down modernisation of the German economy. Another reason that these zombie companies have been able to survive is Welfarism.
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