A tale of two recipes: Well-being policy comes to the western capitalism rescue in the (Post-) trump and (Post-) COVID-19 era

Abstract

The neo-authoritarian “Trump Era”-induced political problems have been aggravated further by the coronavirus that triggered an economic slowdown. The new landscape put Western capitalism, international cooperation, and European integration at risk. This contribution shows similarities and differences in policies dealt with the recessions of 2008 and 2020 on both sides of the Atlantic, with a focus on the EU and Canada. It examines the rising popularity of the welfare state concept applied both to individuals and industries particularly in the EU, for which the protection of citizens’ well-being and solidarity values are at the bloc integration’s core. Ideologically opposing solutions for those crises reflect a fundamental shift in policymaking, reinforcing state interventions policies vs neoliberal approach to the extent of intensified discussions of a universal basic income notion as a response to the inequalities. The article highlights the need for multi - and cross-disciplinary approaches, benefiting policymaking.