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:
“Your home is regarded as a model home, your life as a model life. But all this splendor, and you along with it ... it’s just as though it were built upon a shifting quagmire. A moment may come, a word can be spoken, and both you and all this splendor will collapse.”
—Henrik Ibsen (1828–1906)
“For an artist to marry his model is as fatal as for a gourmet to marry his cook: the one gets no sittings, and the other gets no dinners.”
—Oscar Wilde (1854–1900)
“If the man who paints only the tree, or flower, or other surface he sees before him were an artist, the king of artists would be the photographer. It is for the artist to do something beyond this: in portrait painting to put on canvas something more than the face the model wears for that one day; to paint the man, in short, as well as his features.”
—James Mcneill Whistler (1834–1903)