Source : Webster's Revised Unabridged Dictionary (1913)

Welfare \Wel"fare`\, n. [Well + fare to go, to proceed, to
   happen.]
   Well-doing or well-being in any respect; the enjoyment of
   health and the common blessings of life; exemption from any
   evil or calamity; prosperity; happiness.

         How to study for the people's welfare.   --Shak.

         In whose deep eyes Men read the welfare of the times to
         come.                                    --Emerson.

Source : WordNet®

welfare
     n 1: governmental provision of economic assistance to persons in
          need [syn: {social welfare}]
     2: something that aids or promotes well-being; "for the common
        good" [syn: {benefit}]
     3: a contented state of being happy and healthy and prosperous;
        "the town was finally on the upbeat after our recent
        troubles" [syn: {wellbeing}, {well-being}, {upbeat}, {eudaemonia},
         {eudaimonia}] [ant: {ill-being}]