FACTOID # 23: Wisconsin has more metal fabricators per capita than any other state.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Social market economy

The Social market economy was the German and Austrian economic model during the Cold War era. Known as Soziale Marktwirtschaft in German, it is not to be confused with the socialist market economy - the economic model of the People's Republic of China.     Economics (from the Greek οίκος [oikos], house, and νομος [nomos], rule, hence household management) is a social science that studies the production, distribution, trade and consumption of goods and services. ... An abstract model (or conceptual model) is a theoretical construct that represents physical, biological or social processes, with a set of variables and a set of logical and quantitative relationships between them. ... For the generic term for high-tension and / or indirect struggle between states, falling short of actual open hostilities, see cold war (war). ... Market socialism is an attempt by a Soviet-style economy to introduce market elements into its economic system to improve economic growth. ...


Under Christian Democrat Konrad Adenauer's chancellorship of West Germany (1949-1963), Ludwig Erhard, the economics minister who would later become chancellor, worked towards implementing the social market model. Its aim was to maintain a balance between a high rate of economic growth, low inflation, low levels of unemployment, good working conditions, public welfare and public services by using state intervention. Christian Democracy is a political ideology, born at the end of the 19th century, largely as a result of the papal encyclical Rerum Novarum of Pope Leo XIII, in which the Vatican recognizes workers misery and agrees that something should be done about it, in reaction to the rise of... Election Poster showing Adenauer Konrad Adenauer (January 5, 1876 – April 19, 1967) was a conservative German statesman. ... 1949 (MCMXLIX) is a common year starting on Saturday. ... 1963 (MCMLXIII) was a common year starting on Tuesday (link will take you to calendar). ... Ludwig Erhard (February 4, 1897–May 5, 1977) was a German politician (CDU) and Chancellor of Germany from 1963 until 1966. ... Accumulated GDP growth for various countries. ... Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ... Welfare has four main meanings. ... Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ...


From the 1960s, the social market economy was the main economic model in mainland Western Europe, pursued by administrations of both the centre right (usually led by Christian Democratic parties) and the centre left (usually led by Labour, Social Democrat or Socialist parties). Western Europe is distinguished from Eastern Europe by differences of history and culture rather than by geography. ... In politics, the term centre-right is commonly used to describe and denote political parties or organisations that are moderately right-wing. ... There are many Christian Democratic parties. ... In politics, the term centre-left is commonly used to describe and denote political parties or organisations that stretch from the centre to the left or are moderately left-wing, as opposed to extreme left wing beliefs such as communism. ... The name Labour Party or Labor Party is used by several political parties around the world. ... Social democracy is a political ideology emerging in the late 19th and early 20th centuries from supporters of Marxism who believed that the transition to a socialist society could be achieved through democratic evolutionary rather than revolutionary means. ... The color red and particularly the red flag are traditional symbols of Socialism. ...


Southern European states, especially Italy, preferred large-scale public services, high salary growth rates and a low unemployment rate over low inflation, low national debt, low public expenditure and other economic health policies. This Services State (Italian Stato Assistenziale, now derogatory) version of the social market is generally considered less successful than the more thrifty Northern European models. Southern Europe is a region of Europe. ... Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. ... Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ... Northern Europe is marked in dark blue Northern Europe is a name of the northern part of the European continent. ...


Following the fall of the Berlin Wall in 9 November 1989, centre right parties gradually espoused neo-liberal economic policies while centre left parties developed the more free-market based Third Way. Nevertheless, a commitment to some form of social market economy was present in the European Union Constitution (now in limbo following the referenda in France and the Netherlands). Berlin Wall on June 7, 2003 The Berlin Wall (German: Die Berliner Mauer) was a long barrier separating West Berlin from East Berlin and the surrounding territory of East Germany. ... November 9 is the 313th day of the year (314th in leap years) in the Gregorian Calendar, with 52 days remaining. ... 1989 (MCMLXXXIX) is a common year starting on Sunday of the Gregorian calendar. ... In politics, the term centre-right is commonly used to describe and denote political parties or organisations that are moderately right-wing. ... The term neoliberalism is used to describe a political-economic philosophy that had major implications for government policies beginning in the 1970s – and increasingly prominent since 1980 – that de-emphasizes or rejects positive government intervention in the economy, focusing instead on achieving progress and even social justice by encouraging free... In politics, the term centre-left is commonly used to describe and denote political parties or organisations that stretch from the centre to the left or are moderately left-wing, as opposed to extreme left wing beliefs such as communism. ... The Third Way is a centrist philosophy of governance that, at least from a traditional social democratic perspective, usually stands for deregulation, decentralisation and lower taxes. ...

 Art. I-3 of the Treaty establishing a Constitution for Europe The Union shall work for the sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social progress, and a high level of protection and improvement of the quality of the environment. It shall promote scientific and technological advance. 

The Treaty establishing a Constitution for Europe, commonly referred to as the European Constitution, is an international treaty intended to create a constitution for the European Union. ...

See also

The Social Market Foundation is a think tank based in the UK. It was formed in 1989 by supporters of David Owen after the SDP disbanded. ... According to ordoliberalism, the state must create a proper legal environment for the economy and maintain a healthy level of competition through measures that adhere to market principles. ... Wilhelm Röpke (October 10, 1899, Schwarmstedt, a village near Hannover - February 12, 1966, Geneva) was one of the most important spiritual fathers of the German social market economy. ...

External links

  • Initiative Neue Soziale Marktwirtschaft (German)
  • Essay on Germany's Social Market Economy

  Results from FactBites:
 
Market economy - Wikipedia, the free encyclopedia (718 words)
However, it is often said that "market failure" is a frequent occurrence in free market.
In the model of a social market economy the state intervenes where the market does not fulfill the needs of the market participants.
It is possible for a market economy to have government intervention in the economy.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m