Social Democracy

 

A political ideology that supports economic and social interventions by the government in order to promote social justice and equality within a working capitalist economy. A social democracy includes policies like state welfare provisions, collective bargaining to keep consumer costs low and a general regulation of the economy so the market doesn’t go unchecked.

Social democracy will often include measures for income redistribution and a strong commitment to representative democracy - that is, the idea that the social, racial and gender diversity of the population SHOULD be represented by their government.
 

Social democracy aims to create the conditions for capitalism that will also lead to greater equality. It is no longer just the transitional point from capitalism to socialism as it was in the post-war era. 

Modern Social Democracy aims to REFORM rather than REPLACE capitalism.