Social democracy
Social democracy influenced the development of social corporatism, a form of economic tripartite corporatism based upon a social partnership between the interests of capital and labour, involving collective bargaining between representatives of employers and of labour mediated by the government at the national level. During the post-war consensus, this form of social democracy has been a major component of the Nordic model and to a lesser degree the West European social market economies. The development of social corporatism began in Norway and Sweden in the 1930s and was consolidated in the 1960s and 1970s. The system was based upon the dual compromise of capital and the labour as one component and the market and the state as the other component. From the 1940s through the 1970s, defining features of social democracy as a policy regime included Keynesian economic policies and industrial agreements to balance the power of capital and labor as well as the welfare state. This is especially associated with the Swedish Social Democrats. In the 1970s, social corporatism evolved into neo-corporatism which essentially replaced it. Neo-corporatism has represented an important concept of Third Way social democracy. social democratic theorist Robin Archer wrote about the importance of social corporatism to social democracy in his work "Economic Democracy: The Politics of a Feasible Socialism" (1995). As a welfare state, social democracy is a specific type of welfare state and policy regime described as being universalist, supportive of collective bargaining and more supportive of public provision of welfare. It is especially associated to the Nordic model.