Researched
Social Insurance
Bismarck's health (1883), accident (1884) and pension insurance (1889) protect workers against life risks.
Open in the interactive tree →Industrialization made wage labor normal and illness, accident and old age a poverty risk. The German contribution-funded model was copied worldwide (Austria, Britain's National Insurance Act of 1911, the US Social Security Act of 1935, the UK Beveridge Report of 1942). It is the basis of the welfare state and is now under pressure from aging and automation.
Prerequisites
- State & Administration~3000 BC
- Probability Theory1654Actuarial risk tables for sickness, accident and pension insurance rest on probability
- Insurance & Risk Pooling~1690Social insurance applies the risk-pooling principle with state compulsion
- Steam Engine1712
- Economics1776
- Trade Unions & Labour Law1871Bismarck's insurance laws answered a strong labour movement