Is social democracy good for mental wellbeing?

I was thinking, on a psychological level is there something good about social democracy for a society? That approach of a close community built through shared contribution towards looking after each other, so much of what you do in that society being devoted to caring for each other, it seems like something that's healthy on an emotional level and maybe missing in more right-wing societies. On top of that there's the element of less stress because it's not as individualistic - there isn't as much pressure to be immediately financially successful, and if you're not then you're still provided for to some extent.

It definitely seems plausible, but I'm not sure. I try to avoid getting too into the dogmatic principle of a single ideology being the answer to all of life's problems, and since I haven't spent time living in a social democracy as well as a more right wing liberal democracy, I'm probably not equipped to answer that question. And although social democracies are definitely some of the worlds happiest countries, this is probably more because of the economic and political impact of social democracy than the psychological side.

Still, it's an interesting question. What do you think? I'd be very interested to see any relevant sources exploring this.