According to varieties of capitalism, welfare states are… Please select all that apply.
A) Inefficient since they are an inadequate institutional response to globalization.
B) Efficient since they help to develop comparative institutional advantages.
C) Providing an incentive to develop specialized labour skills.
D) Providing an incentive to develop 'radical innovation'.

Question

Quizplus · Accepted Answer

Welfare states are considered efficient as they help develop comparative institutional advantages by supporting specialized labor skills, which are crucial for maintaining competitiveness in certain industries.

According to Varieties of Capitalism, Welfare States Are… Please Select