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der was further developed by the cologne school around the economist and anthropologist alfred müller armack who therefore coined the term soziale marktwirtschaft social market economy in a publication in december 1946 66 although it evolved from ordoliberalism as a new variant of neoliberalism this concept was not identical with the conception of the freiburg school in contrast to eucken who favoured a strictly procedural or rule oriented liberalism in which the state solely sets the institutional framework and abstains generally from interference in the market müller armack emphasised the state s responsibility actively to improve the market condition and simultaneously to pursue a social balance 67 in putting social policy on a par with economic policy müller armack s concept was more emphatic regarding socio political aims than the ordoliberal economic concept as an extension of neoliberal thought the social market economy was deliberately not a defined economic order but an adjustable holistic conception pursuing a complete humanistic societal order as a synthesis of seemingly conflicting objectives namely economic freedom and social security 34 although it is often viewed as a mélange of socio political ideas rather than a precisely outlined theoretical order the conception possessed an effective slogan which facilitated its communication to both politics and the public however the eventual implementation required not only communication but also political backup citation needed müller armack s concept soon met with the conception of the then chairman of the sonderstelle geld und kredit special bureau for money and credit within the administration for finance i e an expert commission preparing the currency reform in the then anglo american bizone ludwig erhard although erhard was rather inclined to eucken s ordoliberal competitive market order 68 and even considered himself an ordoliberal 69 he was strongly impressed by müller armack most of all not as a theorist but as one who wanted to transfer theory into practice 49 when erhard succeeded johannes semmler as director of the administration for economics in the bizonal economic council on 2 march 1948 the social market economy entered the political sphere soon after on 21 april 1948 erhard informed the parliament about his economic policy and introduced the concept of the social market economy 70 although there was no unanimous applause both the liberal democrats and conservatives widely welcomed the transition to a more market oriented economy 71 konrad adenauer the chairman of the cdu in the british zone of occupation invited erhard to also inform the party members about his socio economic conception at the party convention in recklinghausen germany on 28 august 1948 in a visionary and stirring speech entitled marktwirtschaft im streit der meinungen market economy in dispute 72 erhard defended his concept of the social market economy alluding to the dualism between a controlled economy and a market economy 73 in view of the upcoming regional and federal elections adenauer who was initially sceptical about erhard 74 was not only impressed by the polarising slogan such as controlled or market economy but also by the efficacy of erhard and his programme 75 the foundation for a successful political alliance was laid citation needed konrad adenauer a proponent of the social market economy chancellor adenauer of the ruling cdu implemented a new novel economic order amalgamating the promotion of free competition with the responsibility of the social government the wirtschaftswunder or economic miracle of west germany could not have been brought about without secure social peace in the country adenauer s program centered on legislation establishing co determination in the coal and steel industry the system of employee property formation the equalization of burdens the creation of subsidized housing child benefits the agricultural green plan and the dynamism of pensions 76 on 20 june 1948 the principles of the social market economy espoused by the cdu became the foundation of modern german economic policy the social market economy is the socially anchored law for the industrial economy according to which the achievements of free and able individuals are integrated into a system that produces the highest level of economic benefit and social justice for all this system is created by freedom and responsibility which find expression in the social market economy through genuine performance based competition and the independent control of monopolies genuine performance based competition exists when the rules of competition ensure that under conditions of fair competition and equal opportunity the better performance is rewarded market driven prices regulate the interaction between all market participants 77 after the christian social union in bavaria csu also expressed its commitment to a market economy with social balance and the then newly elected bavarian minister for economic affairs hanns seidel advocated erhard s liberal and social economic model at the csu s party convention in straubing in may 1949 78 the economic principles elaborated by the working committee of the cdu csu as liaison body and information centre of the two political parties commonly referred to as the union centred the social market economy 79 finally these principles were adopted as party platform and manifesto for the upcoming federal elections at the cdu s party conference in düsseldorf on 15 july 1949 80 in contrast to the previous ideological ahlener programm suggesting a rather abstract and anti materialist gemeinwirtschaft 81 these düsseldorfer leitsätze not only provided a concrete pragmatic and materialist economic programme but also an attractive slogan to reach consensus within the party and the public while eventually the union of the two recently established political parties i e the cdu and the csu possessed a coherent and unifying economic programme enabling a more consistent public front the oldest german political party the social democratic party spd led by the advocate of economic planning and extensive socialisation kurt schumacher did not introduce its own economic concept this not only complicated the parliamentary work of the party in the economic council but also limited the public relations of the party as a whole especially in times of campaigning where the partially complex political programmes were simplified and popularised citation needed in the run up to the federal elections in august 1949 the cdu csu consequently aligned their party platforms policies and manifestos and campaigned with the social market economy in particular the former advertising manager for consumer goods ludwig erhard who affirmed that he would go into the upcoming political party clashes with particular energy for the cdu 82 realised the potential of subtle and systematic marketing to transform the concept from an economic theory or even abstract economic policy into the basis of a political party s propaganda and public image that held broad appeal eventually on sunday 14 august 1949 around 31 million germans were called to cast a vote for the first german bundestag and to decide between the social market economy and a controlled economy advocated by the spd of those eligible to vote 25 million or 78 5 per cent actually went to the ballot boxes and showed a clear commitment to the emerging post war democracy citation needed although the spd turned out to be the most successful single party by gaining 29 12 per cent of the votes the cdu csu combined attracted more votes totalling 31 per cent and 139 mandates compared to 131 for the spd however in fact both volksparteien had suffered large percentage losses over their previous land election totals by failing to capture a comparable share of the enlarged electorate the most remarkable advance by winning over a million extra votes and achieving 11 9 per cent of the total votes was that made by the liberal free democratic party fdp led by the chairman theodor heuss the economically liberal fdp were in fact the only political party consistently gaining percentage of votes between 1946 and 1949 while these results affirmed the then general pro market trend in public opinion eventually the electorate made its decision contingent on the satisfaction of its practical needs rather than on any particular theoretical economic system the advantage of the cdu and the csu lay precisely in the fact that they were quasi governing across the bizone and thus increasingly identified with the economic recovery and the improving economic conditions although the implementation of the social market economy benefited also from other crucial factors including the east west conflict and a favourable political and social climate within germany and abroad the stabilising alliance between the conservative and liberal parties the pro market composition of the economic council and even the federal republic s own grundgesetz basic law which stressed individual freedom human dignity and the subsidiarity of societal organisation it was also the consistent efforts at political communication of the cooperative and corporate model that led to the implementation and eventual electoral validation of the social market economy in post war west germany 83 at first controversial the model became increasingly popular in west germany and austria since in both states economic success wirtschaftswunder was identified with it from the 1960s the social market economy was the main economic model in mainland western europe pursued by administrations of both the centre right led by the cdu csu and the centre left led by the spd the concept of the social market economy is still the common economic basis of major political parties in germany including the cdu 84 fdp 85 and spd 86 and a commitment to some form of social market economy is present in article 3 of the treaty on european union citation needed united kingdom edit in the united kingdom the concept of the social market economy was first introduced by the conservative politician keith joseph 87 following world war ii the main political parties agreed on the nationalization of industry and close economic regulation in the 1970s joseph introduced the idea as an alternative to the post war consensus allowing free markets for competition and innovation whilst the role of government was to help hold the ring provide infrastructure maintain a stable currency a framework of laws implementation of law and order provision of a safety net welfare state defence of property rights and all other rights involved in the economic process throughout his political career joseph used his position to restate the principles of the social market economy and re direct conservative policy in britain 88 joseph eventually set up a think tank in 1974 to study the model and initially called it the ludwig erhard foundation and institute for a social market economy before settling on the name centre for policy studies 89 european union edit the treaty on european union set the following goals in article 3 3 the union shall establish an internal market it 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 90 misconceptions edit although one of the main factors for the emergence of the european model of capitalism was the attempt to ameliorate the conditions of workers under capitalism and thus stave off the emergence of socialism or socialist revolution 91 american critics and eurosceptics identify the social market model with the notions of the welfare state and sometimes mistakenly identify it as being socialist 12 13 17 see also edit capitalism portal economics portal law portal socialism portal crony capitalism corporatism libertarian socialism market socialism rehn meidner model keynesian economics neoclassical economics market failure market economy market structure median income monopoly mixed economy social corporatism tripartism types of capitalism welfare capitalism humanistic economics planned economy references edit tristan claridge 9 may 2017 social capitalism and social capital definitions and discussion socialcapitalresearch com retrieved 1 march 2020 grzejdziak łukasz 25 may 2023 just transition and the eu economic constitution between the market the environment and social justice pdf international academic conference energy justice energy transition global europe state pszczyna p 4 the ideology of the social market economy developed a comprehensive model of the economic system at its heart lies the free market mechanism based on competition this model however is oriented toward the ultimate objective i e social progress accordingly in the social market economy system the role of the state is to correct the market mechanism in such a way as to achieve this goal miceli rossella 2022 the role of state aid in the european fiscal integration rome italy springer international publishing p 66 doi 10 1007 978 3 030 88735 3 isbn 978 3 030 88735 3 at a later stage positive integration became more incisive and taxation became instrumental in promoting market related social values in accordance with the ideology of the social market economy dyson kenneth humphreys peter 2023 the politics of the communications revolution in western europe taylor francis p 1969 isbn 9781032640587 in west germany policies for the communications revolution revealed the latent tensions at the heart of the ideology of the social market economy with its combination of market competition with public service values ralph m wrobel social market economy as alternative approach of capitalism after the financial and economic crisis pdf archived from the original pdf on 11 november 2020 retrieved 21 october 2015 social market cambridge dictionary koppstein lichbach 2005 p 156 spicka 2007 p 2 steffen mau 2003 moral economy of welfare states routledge p 74 isbn 978 1 134 37055 9 1 2 abelshauser 2004 p 89 93 nils goldschmidt hermann rauchenschwandtner 2007 the philosophy of social market economy michel foucault s analysis of ordoliberalism universität freiburg freiburger diskussionspapiere zur ordnungsökonomik hdl 10419 4374 lamberts emiel 1997 christian democracy in the european union 1945 1995 proceedings of the leuven colloquium 15 18 november 1995 leuven university press p 478 isbn 9789061868088 ghdi document page german history retrieved 10 october 2022 1 2 reynolds david b 2002 taking the high road communities organize for economic change m e sharpe p 31 isbn 978 0 7656 0745 4 1 2 van schie p g c voermann gerrit 2006 the dividing line between success and failure a comparison of liberalism in the netherlands and ger...