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:
“There are very many characteristics which go into making a model civil servant. Prominent among them are probity, industry, good sense, good habits, good temper, patience, order, courtesy, tact, self-reliance, many deference to superior officers, and many consideration for inferiors.”
—Chester A. Arthur (1829–1886)
“Research shows clearly that parents who have modeled nurturant, reassuring responses to infants’ fears and distress by soothing words and stroking gentleness have toddlers who already can stroke a crying child’s hair. Toddlers whose special adults model kindliness will even pick up a cookie dropped from a peer’s high chair and return it to the crying peer rather than eat it themselves!”
—Alice Sterling Honig (20th century)
“The best way to teach a child restraint and generosity is to be a model of those qualities yourself. If your child sees that you want a particular item but refrain from buying it, either because it isn’t practical or because you can’t afford it, he will begin to understand restraint. Likewise, if you donate books or clothing to charity, take him with you to distribute the items to teach him about generosity.”
—Lawrence Balter (20th century)