private welfare capitalism

private welfare capitalism
эк. капитализм частного благосостояния* (концепция, согласно которой частный бизнес может обеспечить благосостояние всем работникам, предоставляя им гарантии занятости, повышение оплаты, неденежные компенсации и т. п.; существовала в начале 20 в., но после Великой депрессии была заменена на концепцию государства благосостояния)

Therefore, many businesses were all too happy to let states and, even more so, the federal government take over the function of private welfare capitalism.

See:

Англо-русский экономический словарь.

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