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单词 social market economy
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social market economy
social market economy n. [after German soziale Marktwirtschaft (A. Müller-Armack 1948, in Ordo 1 148)] Politics and Political Economy an economic system based on a free market operated in conjunction with state provision for those unable to sell their labour, such as the elderly or the unemployed (cf. market economy n. at market n. Compounds 2).Originally applied to the set of economic policies employed in the Federal Republic of Germany after the Second World War.
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1950 Amer. Polit. Sci. Rev. 44 1075 Miksch, Leonard, et al. Der Schutz der Wettbewerbs in der Sozialen Marktwirtschaft... Report of a German conference on the problem of cartels and competition in the German ‘social market economy’.
1975 R. Lewis Margaret Thatcher xiii. 157 The ‘social market economy’ as the alternative to Socialism... In essence it means the economy of free market capitalism for the strong..backed by a compassionate state which caters for the weak.
2006 Foreign Affairs Sept. 168/2 Comparing the performances of liberal market economies (in Ireland, the United Kingdom, and the United States) and the social market economies (in Austria, Germany,..and the Nordic countries).
extracted from socialadj.n.
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