Abstract
The collapse of socialism and the transition of both Czech and Slovak economies to the free market model have brought about a renewed interest in problems of the welfare state. Scholars from all over the world, including those from the countries mentioned, try to explore the capitalist welfare state's possibilities in changing the economic and political environment.
John Rawls, the preeminent political philosopher, proposed his own concept of property-owning democracy (POD) as an alternative to both the welfare state as well as the laissez-faire capitalism. In the paper I examine this concept and compare it with the benefits inherent to the welfare state.
Consequently, I clarify its characteristic features from the philosophical point of view. In the final section, I explore some of the recent interpretations and modifications of the POD which have been offered by John Roemer, Nien-hê Hsieh, Martin O'Neill, Thad Williamson, and David Schweickart.
In conclusion, I hold that Rawls' POD can be deemed neither a viable alternative to the welfare state nor the post-capitalistic political regime which was labelled by him as a "liberal socialism".