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:
“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)
“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.
“I’d like to be the first model who becomes a woman.”
—Lauren Hutton (b. 1944)