| Summary: | Is the welfare state efficient? Is it a resolution for problems associated with risk? While looking at high-level generalization, the opposite polarity can be seen on this topic: supporters and critiques. Nevertheless, both sides still need much more accurate empirical pieces of evidence. Moreover, using specific theoretical perspectives can help to obtain an accurate assessment of patterns for institutional analysis. In this paper, risk phenomenon will be assessed within welfare states and it will be analyzed how risk can be related to welfare policies and “trust”. The analysis cannot be limited solely to one field; economic, political, and social aspects also ought to be taken into consideration for further investigations. Nevertheless, in this paper, the concepts will only be analyzed in terms of economic factors.
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