The Social Market Economy – A German Idea for Europe?
MMTC member Olof Brunninge Opens in new window. recently presented for the Ax:son Johnson foundation on the topic “The Social Market Economy – A German Idea for Europe?”
In his talk, Olof traces the roots of the Social Market Economy, i.e. the concept of an economic order that reconciles social matters with a market economy based on competition, addressing the Freiburg Circle (a resistance movement against the Nazis), the Ordo-liberal school around Walter Eucken and the development of the Social Market Economy in Germany since the post war period. Olof concludes his talk by raising the question of whether the Social Market Economy, now that it is broadly embraced, has possibly lost parts of its original meaning.