Model
The social market economy seeks a market economic system rejecting both socialism and laissez-faire capitalism, combining private enterprise with measures of government regulation in an attempt to establish fair competition, low inflation, low levels of unemployment, a standard of working conditions, and social welfare. The term "social" was chosen rather than "socialist" to distinguish the social market economy from a system in which the state directed economic activity and/or owned the means of production, which are privately-owned in the social market model.
Important figures in the development of the concept include Franz Oppenheimer, Walter Eucken, Wilhelm Röpke, Franz Böhm and Alfred Müller-Armack, who originally coined the term Soziale Marktwirtschaft.
Read more about this topic: Social Market Economy
Famous quotes containing the word model:
“When Titian was mixing brown madder,
His model was posed up a ladder.
Said Titian, “That position
Calls for coition,”
So he lept up the ladder and had her.”
—Anonymous.
“She represents the unavowed aspiration of the male human being, his potential infidelity—and infidelity of a very special kind, which would lead him to the opposite of his wife, to the “woman of wax” whom he could model at will, make and unmake in any way he wished, even unto death.”
—Marguerite Duras (b. 1914)
“The striking point about our model family is not simply the compete-compete, consume-consume style of life it urges us to follow.... The striking point, in the face of all the propaganda, is how few Americans actually live this way.”
—Louise Kapp Howe (b. 1934)