A Tale of Two Recipes: Well-being Policy Comes to the Western Capitalism Rescue in the (Post-) Trump and (Post-) COVID-19 Era

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.