WHAT WILL THE NORDIC WELFARE STATE LOOK LIKE IN THE 21ST CENTURY?

The social welfare system broadly covers the social welfare and the health care and retirements’ costs in the countries-members of the European Union, and it is essential in redistribution insurance of income and social unity of citizens. The social welfare systems
of the member countries of the Union are confronted with distinctive changes in current globalization conditions. Therefore, the systems have to be changed and social costs decreased.
In this paper the author analyzes and carries on research why modernization of social welfare system becomes increasingly fast and important in economic and political development at the beginning of new millenium and century, and what the social consumption
looks like in the countries-members of the European Union.The research is focused on the Nordic countries, what they look like as welfare states, how they adjust to global economic changes and movements at the beginning of the 21st century, and whether the Nordic welfare state will lose its specific qualities or it will stay unchageable in the 21st century.