redistributive economy JUST WRITTEN FOR YOU
/riˌdɪstrɪbjʊtɪv ɪˈkɒnəmi/ · red-is-tri-bu-tiv e-con-o-my
noun
- An economic system where wealth and resources are redistributed from the rich to the poor through government policies and social welfare programs. The redistributive economy implemented by the socialist government aimed to reduce income inequality and provide basic necessities to all citizens.
- A type of economic system that focuses on the redistribution of wealth and resources to achieve greater economic equality and social justice. The redistributive economy is often contrasted with a laissez-faire economy, which prioritizes individual freedom and market forces.
Synonyms
socialist economymixed economyprogressive economyegalitarian economysocial welfare economydemocratic economyegalitarian economic systemsocial democratic economy
Antonyms
Did you know? The concept of a redistributive economy has been influential in shaping the economic policies of many countries, including Sweden, Norway, and Denmark, which are known for their high levels of social welfare and economic equality.