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Rhine Capitalism
The social market economy (SOME; ), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, is a socioeconomic model combining a free-market capitalist economic system with social policies and enough regulation to establish both fair competition within the market and generally a welfare state. It is sometimes classified as a regulated market economy. The social market economy was originally promoted and implemented in West Germany by the Christian Democratic Union under Chancellor Konrad Adenauer in 1949 and today it is used by ordoliberals, social liberals and social democrats alike. Its origins can be traced to the interwar Freiburg school of economic thought. The social market economy was designed to be a middle way between ''laissez-faire'' forms of capitalism and socialist economics. It was strongly inspired by ordoliberalism, which was influenced by the political ideology of Christian democracy. Social market refrains from at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free-market Capitalist
A market economy is an economic system in which the decisions regarding investment, production, and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production. Market economies range from minimally regulated free market and ''laissez-faire'' systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes referred ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ordoliberalism
Ordoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential. Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant . The term "ordoliberalism" () was coined in 1950 by and refers to the academic journal '' ORDO''. Linguistic differentiation Ordoliberals separate themselves from classical liberals. Notably, , with , founder of ordoliberalism and the Freiburg School, rejected neoliberalism. Ordoliberals promote the concept of the social market economy, which favors a strong role for the state with respect to the market and which is in many ways different from the ideas connected to the term "neoliberalism". The term "neoliberalism" was originally coined in 1938 at the by , who is regarded as an ordoliberal today. Because of the connected history, ordoliberalism is sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third Way
The Third Way is a predominantly centrist political position that attempts to reconcile centre-right and centre-left politics by advocating a varying synthesis of Right-wing economics, right-wing economic and Left-wing politics, left-wing social policies. The Third Way is a reconceptualization of social democracy. It supports workfare instead of welfare spending, welfare, work training programs, educational opportunities, and other government programs that give citizens a 'hand-up' instead of a 'hand-out'. The Third Way seeks a compromise between a less interventionist economic system as supported by Neoliberalism, neoliberals and Keynesian economics, Keynesian Social democracy, social democratic spending policy supported by social democrats and progressivism, progressives. The Third Way was born from a reevaluation of political policies within various centre to centre-left progressive movements in the 1980s in response to doubt regarding the economic viability of the state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tony Blair
Sir Anthony Charles Lynton Blair (born 6 May 1953) is a British politician who served as Prime Minister of the United Kingdom from 1997 to 2007 and Leader of the Labour Party (UK), Leader of the Labour Party from 1994 to 2007. He was Leader of the Opposition (United Kingdom), Leader of the Opposition from 1994 to 1997 and held various shadow cabinet posts from 1987 to 1994. Blair was Member of Parliament (United Kingdom), Member of Parliament (MP) for Sedgefield (UK Parliament constituency), Sedgefield from 1983 to 2007, and was special envoy of the Quartet on the Middle East from 2007 to 2015. He is the second-List of prime ministers of the United Kingdom by length of tenure, longest-serving prime minister in post-war British history after Margaret Thatcher, the longest-serving Labour Party (UK), Labour politician to have held the office, and the first and only person to date to lead the party to three consecutive general election victories. Blair attended the independent s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Model
The term German model is most often used in economics to describe post-World War II West Germany's means of using (according to University College London Professor Wendy Carlin) innovative industrial relations, vocational training, and closer relationships between the financial and industrial sectors to cultivate economic prosperity. The two key components of the German model is a national system for certifying industrial and artisan skills, as well as full union participation in the oversight of plant-based vocation training. The German model of collective bargaining differs from the model common in other European countries and the United States. In Germany, unions and employer associations bargain at the industry-region level. In contrast to tripartite corporatist systems, the German government is not involved in the negotiations. These large-scale agreements have broad coverage and lead to considerable standardization in wages and employment conditions across the country. Some ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anglo-Saxon Model
The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia and Ireland) is a regulated market-based economic model that emerged in the 1970s based on the Chicago school of economics, spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed Reaganomics), and reinforced in the United Kingdom by then Prime Minister Margaret Thatcher (dubbed Thatcherism). However, its origins are said to date to the 18th century in the United Kingdom and the ideas of the classical economist Adam Smith. Characteristics of this model include low levels of regulation and taxation, with the public sector providing minimal services. It also means strong private property rights, contract enforcement, and overall ease of doing business as well as low barriers to free trade. Disagreements over meaning Proponents of the term "Anglo-Saxon economy" argue that the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equal Opportunity
Equal opportunity is a state of fairness in which individuals are treated similarly, unhampered by artificial barriers, prejudices, or preferences, except when particular distinctions can be explicitly justified. For example, the intent of equal employment opportunity is that the important jobs in an organization should go to the people who are Meritocracy, most qualified – persons most likely to perform ably in a given task – and not go to persons for reasons deemed arbitrary or irrelevant, such as circumstances of birth, upbringing, having well-connected Nepotism, relatives or Cronyism, friends, Religious discrimination, religion, Sexism, sex, ethnicity, Racism, race, caste, or involuntary personal attributes such as Ableism, disability, Ageism, age. According to proponents of the concept, chances for advancement should be open to everybody without regard for wealth, status, or membership in a Social privilege, privileged group. The idea is to remove arbitrariness from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Planning
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the Market (economics), market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of Social ownership, socially owned organizations which together comprise the productive apparatus of the economy. There are various forms of economic planning that vary based on their specific procedures and approach. The level of centralization or decentralization in decision-making depends on the specific type of planning mechanism employed. In addition, one can distinguish between centralized planning and decentralized planning. An economy primarily based on planning is referred to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Ownership
Social ownership is a type of property where an asset is recognized to be in the possession of society as a whole rather than individual members or groups within it. Social ownership of the means of production is the defining characteristic of a socialist economy, and can take the form of community ownership, state ownership, common ownership, employee ownership, cooperative ownership, and citizen ownership of equity. Within the context of socialist economics it refers particularly to the appropriation of the surplus product produced by the means of production (or the wealth that comes from it) to society at large or the workers themselves. Traditionally, social ownership implied that capital and factor markets would cease to exist under the assumption that market exchanges within the production process would be made redundant if capital goods were owned and integrated by a single entity or network of entities representing society. However, the articulation of models of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Property
Private property is a legal designation for the ownership of property by non-governmental Capacity (law), legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from Collective ownership, collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. As a legal concept, private property is defined and enforced by a country's political system. History The first evidence of private property may date back to the Babylonians in 1800 BC, as evidenced by the archeological discovery of Plimpton 322, a clay tablet used for calculating property boundaries; however, written discussions of private property were not seen until the Persian Empire, and emerged in the Western tradition at least as far back as Plato. Before the 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Communist
Communism () is a sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is the creation of a communist society, a socioeconomic order centered on common ownership of the means of production, distribution, and exchange that allocates products in society based on need.: "One widespread distinction was that socialism socialised production only while communism socialised production and consumption." A communist society entails the absence of private property and social classes, and ultimately money and the state. Communists often seek a voluntary state of self-governance but disagree on the means to this end. This reflects a distinction between a libertarian socialist approach of communization, revolutionary spontaneity, and workers' self-management, and an authoritarian socialist, vanguardist, or party-driven approach to establish a socialist state, which is expected to wither away. Communist parties have been described as radi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Democracy
Social democracy is a Social philosophy, social, Economic ideology, economic, and political philosophy within socialism that supports Democracy, political and economic democracy and a gradualist, reformist, and democratic approach toward achieving social equality. In modern practice, social democracy has taken the form of predominantly capitalist economies, a robust welfare state, policies promoting social justice, market regulation, and a more Redistribution of income and wealth, equitable distribution of income. Social democracy maintains a commitment to Representative democracy, representative and participatory democracy. Common aims include curbing Social inequality, inequality, eliminating the oppression of Social privilege, underprivileged groups, eradicating poverty, and upholding universally accessible public services such as child care, Universal education, education, elderly care, Universal health care, health care, and workers' compensation. Economically, it support ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
