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:
“... if we look around us in social life and note down who are the faithful wives, the most patient and careful mothers, the most exemplary housekeepers, the model sisters, the wisest philanthropists, and the women of the most social influence, we will have to admit that most frequently they are women of cultivated minds, without which even warm hearts and good intentions are but partial influences.”
—Mrs. H. O. Ward (1824–1899)
“I had a wonderful job. I worked for a big model agency in Manhattan.... When I got on the subway to go to work, it was like traveling into another world. Oh, the shops were beautiful, we had Bergdorf’s, Bendel’s, Bonwit’s, DePinna. The women wore hats and gloves. Another world. At home, it was cooking, cleaning, taking care of the kids, going to PTA, Girl Scouts. But when I got into the office, everything was different, I was different.”
—Estelle Shuster (b. c. 1923)
“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)