Welfare state Keynes and state ownership

Abstract

Welfare state Keynes and state ownership Abstract In the developed countries of Europe, state ownership expanded in several waves after World War II, when various types of “Keynesian welfare states” emerged. This paper raises the question of whether the theory of Keynes and the theories of the welfare state give sound fundamentals for taking private firms into state hands. The non-exhaustive analysis of related conservative, social democratic and academic approaches concludes that nationalization started without any theoretical background. The process was boosted only by the general expansion of state interventions, justified by Keynesian principles. Keywords: state ownership, nationalization, theories of welfare state, Keynesianism