The Nordic model traces its foundation to the "grand compromise" between workers and employers spearheaded by farmer and worker parties in the 1930s. Following a long period of economic crisis and class struggle, the "grand compromise" served as the foundation for the post-World War II Nordic model of welfare and labor market organization. The key characteristics of the Nordic model were the centralized coordination of wage negotiation between employers and labor organizations, termed a social partnership, as well as providing a peaceful means to address class conflict between capital and labor.