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The German Social Market Economy – (Still) a Model for the European Union?

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  • Klaus Dieter John

    (Chemnitz Technical University, Germany)

Abstract

The model of a Social Market Economy (SME) defines a policy concept of economic order which is based on free markets but, at the same time, includes elements of social balancing. The term “Social Market Economy” can neither be found in the Treaty on European Union nor in the Treaty establishing the European Community. The documents only use the terms “open market economy” and “free competition”. The Commission has never made a clear statement whether its economic policy is guided by the principles of a SME. Because the SME-concept is not new and its value is not undisputed it is worth to reflect on it and to find out what it has to offer for the economic and social policy of the EU.

Suggested Citation

  • Klaus Dieter John, 2007. "The German Social Market Economy – (Still) a Model for the European Union?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 3(3(508)), pages 3-10, March.
    • Handle: RePEc:agr:journl:v:3(508):y:2007:i:3(508):p:3-10
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    Cited by:

    1. Davidescu Adriana Anamaria, 2017. "Measuring the social market economy. A composite index approach for EU countries," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 11(1), pages 227-240, July.

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