Meaning of social market economy in English:

social market economy


(also social market)
  • An economic system based on a free market operated in conjunction with state provision for those unable to work, such as elderly or unemployed people.

    ‘They often object to the community ethic that underpins the social market economy, preferring a more individualistic approach to society.’
    • ‘And in Germany we have a certain culture, a social market economy.’
    • ‘The social market economy, which we embrace, is based on these principles.’
    • ‘Specific issues to be discussed include the challenges faced by the European Left, and the transition to a social market economy.’
    • ‘Since 1999, we have been shifting back towards a rational version of the social market economy.’
    • ‘The social market economy can be contrasted with the free market economy.’
    • ‘Austria has a well-developed social market economy with a high standard of living in which the government has played an important role.’
    • ‘In the 1930s through the 1950s the belief became popular that capitalism could only survive in an amputated way, in the form of a mixed economy or as a social market economy.’
    • ‘It was conducted in social markets - markets that were embedded in society and subject to many kinds of regulation and restraint.’
    • ‘Post-war West Germany constructed a particularly successful form of capitalism that went under the title of the social market economy.’
    • ‘Among these suggestions was the establishment of a social market economy - the kind that has existed in Western Europe for decades.’
    • ‘Moreover, the post-war economic recovery seemed to back the claim that the social market economy was a successful alternative to socialism.’
    • ‘Schröder declared that it was necessary ‘to adapt the social market economy to the completely changed conditions of a globalised economy via the reforms introduced by the government.’’
    • ‘But if this theory allows the use of government force to break up or limit monopoly power, by the same token it takes a very grim view of any state barriers to entry into various economic or social markets.’
    • ‘Whether this constitutes a transformation of nineteenth-century contract law to the standards of the social market is a source of debate.’
    • ‘But there's no doubt the social market will be opened up to much greater competition from a variety of providers.’