Social market economy
The social market economy is a societal and economic policy model with the aim of " combining free initiative on the basis of a competitive economy with social progress that is guaranteed by economic performance".
The term social market economy goes back to Alfred Müller-Armack , who saw it as an Irish formula, the meaning of which is to "combine the principle of freedom in the market with that of social equality". The concept is based on ideas that were developed in the 1930s and 1940s with quite different emphasis. Ordoliberalism stands out from this historical background , in particular Walter Eucken , Franz Böhm , Alexander Rustow and Wilhelm Röpke . Compared to ordoliberal ideas, the concept is characterized by greater pragmatism, for example in economic and social policy .
Social market economy has established itself as the name for the economic order of the Federal Republic of Germany , the Republic of Austria and Switzerland . The social market economy was agreed in the State Treaty of 1990 between the Federal Republic and the GDR as a common economic order for the monetary, economic and social union and is propagated as an “export hit”. According to the Lisbon Treaty, the European Union is striving for a “competitive social market economy” with full employment and social progress. In the international context, the economic order is sometimes referred to as Rhenish capitalism . The term is partly in need of interpretation and is sometimes also viewed as a political catchphrase because of its ambiguity .
term
Emergence
Alfred Müller-Armack chose this combination of words for the first time in 1946 in his work "Economic Control and Market Economy", which was finally published in 1947. He designed the social market economy as a “third form” alongside a purely liberal market economy and state economic control. For the economic order of Germany, which was destroyed by the war, the market should be embedded as a “supporting structure” in “a consciously controlled and socially controlled market economy”. The attempt to "combine the principle of freedom on the market with that of social equilibrium" was what Müller-Armack described as an " Irish formula".
Distribution by the CDU
At first the term was hardly used. It was not until 1949 that the term became known to a wider public as the self-designation of the economic policy of Ludwig Erhard and the CDU through the Düsseldorf guiding principles ( CDU program for the 1949 federal election ). The new economic policy catchphrase “social market economy”, which the CDU placed in opposition to “unsocial planned economy”, was initially controversial. From the social democratic and trade union side, but also from the workers' wing of the CDU, the combination of words was criticized as a euphemism and a purely propagandistic catchphrase. The entrepreneurial and economic liberal side feared that the attribute “social” would arouse expectations that would run counter to economic progress or German competitiveness. The diverse language criticism, however, could not prevent the political success of the catchphrase, with which election campaigns were contested and won, especially in the 1950s.
In West Germany , the term was raised to the guideline of government policy in 1949–1966 and again in 1982–1998 and later promoted as an “export hit”.
Takeover by the SPD and wide acceptance
The SPD initially consistently avoided the use of this flag word and propagated the competitive term of “ democratic socialism ”. In 1949 she even spoke of the “meaningless word of the social market economy” in her election call. With the Godesberg program of 1959 in particular, however, the SPD increasingly adopted elements of the social market economy. The SPD has only been using the term in its programmatic writings since the 1990s. The German Federation of Trade Unions has only used it since its Dresden basic program of 1996. A positive reference to the social market economy has since been widespread across political borders.
Spectrum of meaning
The broad social reference to the term social market economy does not mean that everyone agrees on what is meant by social market economy.
Many scientific and political publications assume an actual original meaning. Reference is often made to the origins of the history of ideas, the currency union, the political / corporatist reactions to the Korean boom and the socio-political course of the 1950s. Just as many publications assume a plurality of justifiable meanings that exist in parallel and / or in chronological order without any actual meaning being discernible. Finally, the evaluation is also represented as an empty formula with no real meaning.
Authors such as B. Knut Borchardt , Roland Sturm and Martin Nonhoff emphasize the open, dynamic character of a compromise formula and argue that “social market economy” cannot be reduced to an actual meaning. Rather, it should be thought of as the continuously evolving result of a dynamic process. Due to the plurality of origins - Müller-Armack's original conception in "Economic Control and Market Economy", Erhard's ideas and those of the CDU in the Düsseldorf guiding principles - a definitive justification of the origin is not possible. The possible predecessors of the conception of the social market economy are by no means congruent with each other, but “full of points of friction and formidable contrasts”. According to this, “social market economy” is not only a political and politically interpreted term in its present form, but also according to its original interpretation.
According to Hans-Hermann Hartwich, there is a self-contained, theoretical concept of a “social market economy” that has been mixed up with a “popular but completely non-binding idea of a social market economy” through a political discourse shaped by election campaigns . The result is not an empty formula, but something new.
According to Dieter Cassel and Siegfried Rauhut, there is an origin meaning. The social market economy, however, is "largely discredited and degenerated into an empty formula ". You plead for a return to such an original meaning.
Name for the economic order of the Federal Republic of Germany
Since the 1950s, the term social market economy has also become a term for the real economic order of the Federal Republic of Germany. In practice, however, the economic policy of the various federal governments was based on changing political objectives.
Most authors assume that the social market economy has continued to develop since 1948 without the fundamental characteristics of the economic system having changed. Others are of the opinion that the real economic order no longer corresponds to Ludwig Erhard's ideas since 1957 or since the 1960s .
According to Michael Spangenberger , it has been possible to "internationalize the content of the social market economy in the concept of 'Rhenish capitalism'". In order to differentiate the corporative or coordinated market economy that emerged in the countries bordering the Rhine as well as Scandinavia and Japan from the Anglo-Saxon economic systems, Michel Albert introduced the term " Rhenish capitalism " in 1991 , assigning the social market economy to Rhenish capitalism. Gerhard Willke sees the social market economy or the synonymous Rhenish capitalism as a model of capitalism that is characterized by a moderate degree of regulation. He contrasts this with the alternative capitalism models of the poorly regulated free market economy on the one hand and the highly regulated managed economy on the other hand and comes to the conclusion that efficiency, prosperity and quality of life are highest in the capitalism model of the social market economy. For Herbert Giersch , the social market economy or Rhenish capitalism, which he attributes “a touch of communitarianism ”, was symbolized in the 1950s and 60s by personalities such as Konrad Adenauer or leading representatives of Deutschland AG such as Hermann Josef Abs . In contrast, he sees Erhard, Eucken and Hayek , whom he identifies with a “pure capitalism” or a “neoliberal market economy”. Even Manfred G. Schmidt sees the economic system of the Federal Republic of Germany marktwirtschaft foreign features, particularly in terms of the average government expenditure ratio and an average density of economic regulation, which therefore differed from the original model of the social market economy. He suspects that for many observers the term “social market economy” is not sufficiently selective and that they would prefer terms such as “organized”, “German” or “Rhenish capitalism” to describe the economic order. Gero Thalemann, on the other hand, after a thorough empirical examination of the basic values and goals, comes to the conclusion that the social market economy for the German economy can generally be viewed as a "realized concept".
The concept and characteristics of the social market economy
The social market economy tries to combine the advantages of a free market economy , in particular a high efficiency and supply of goods, with the welfare state as a corrective, which is supposed to prevent possible negative effects of market processes. Its design elements include free pricing for goods and services on the market, private ownership of means of production and the pursuit of profit as an incentive to perform. By creating a legal framework, personal freedoms such as trade , consumption , contract , occupation and freedom of association are to be guaranteed. At the same time, state competition policy should secure competition and prevent private market power (monopolies, cartels) if possible. The basic idea is that the market economy can only develop its prosperity-enhancing and coordinating function if it is committed to competition through a strict state regulatory policy . The state should supplement and correct market events by actively intervening in the economy (for example through social policy , economic policy or labor market policy measures) if this is deemed necessary in the general interest. The socio-politically oriented correction of market incomes should, however, be limited to the extent that the functionality of a competitive economy is not impaired and the individual responsibility and initiative of the citizens must not be paralyzed by a supply state, but the specific demarcation remains open. “Even the criterion of market conformity proposed for the special case of procedural policy measures, however, still needs to be interpreted in individual cases”. Müller-Armack is usually named as the originator of the concept, Erhard's merit lies in the economic policy implementation of the social market economy in the post-war period .
Authorship of the concept of the social market economy
In the opinion of Otto Schlecht , who had worked in the Federal Ministry of Economics since 1953, alongside Walter Eucken and Ludwig Erhard, especially Alexander Rustow, Wilhelm Röpke, Franz Böhm, Friedrich A. Lutz , Leonhard Miksch and Fritz W. Meyer were the intellectual fathers of the social market economy call. Special mention should also be made of Alfred Müller-Armack, who expanded and supplemented the world of the ordoliberals and Ludwig Erhard. According to Hans-Rudolf Peters , who worked in the Federal Ministry of Economics from 1959 to 1974, the theoretical model of the social market economy was mainly designed by Alfred Müller-Armack. Müller-Armack's concept of the social market economy, however, remains rather nebulous. Although the conceptual part “market economy” is relatively precisely defined due to the advance work of ordoliberalism, the social conceptual part lacks a solid theoretical foundation. According to Peters, Erhard and Müller-Armack were in agreement on questions of competition policy; as far as the type and scope of the social tasks are concerned, however, “fundamental” differences of opinion can be identified. Erhard was basically more of an ordoliberal than a social market economist, because he was convinced that market-based prosperity would shrink social problems to a minimum for all. Müller-Armack himself was of the opinion that the overall economic concept of the social market economy was primarily developed by Ludwig Erhard.
On the other hand, a number of authors deny a theoretical contribution by Ludwig Erhard to the social market economy. The text War Financing and Debt Consolidation (1944), in which Erhard describes the design of a post-war order, is rated by the Erhard biographer Volker Hentschel as a “rough sketch”. According to Uwe Fuhrmann, Erhard was an advocate of the "free market economy" and thus contradicted Müller-Armack's dualistic conception, which understood economic and social policy as two equally weighted targets.
Alfred Müller-Armack
Alfred Müller-Armack deserves special mention as the spiritual father of a socially structured market economy, who from 1952 as head of the policy department of the Federal Ministry of Economics and from 1958 at the same time as state secretary as a colleague of Ludwig Erhard not only coined the term social market economy, but also - with others - systematically developed the concept. Müller-Armack developed the theoretical basis of his concept when the “Research Center for General and Textile Market Economy” at the University of Münster was relocated to the Sacred Heart Monastery in Vreden from 1943 due to the war .
Müller-Armack had deliberately left the exact design of the model of the social market economy open because he was of the opinion that framework conditions can change and that an economic system must adapt dynamically to them: "Our theory is abstract, it can only be publicly implemented when it gets a concrete meaning and shows the man on the street that it is good for him. ”This legitimation function explains why there is no closed theory of the social market economy, but rather a program that has grown in individual steps. This evolutionary-compromising basic structure of the Müller-Armack approach necessarily led to tensions in relation to the ordoliberal theory in the course of time.
Shaped by Christian social doctrine and Wicksell's business cycle theory , he most clearly represented the idea of state influence on the results of the market economy. Müller-Armack saw the social market economy as a third form besides the purely liberal market economy and the steering economy : “We speak of 'social market economy' to characterize this third form of economic policy. This means that the market economy seems necessary to us as the supporting framework of the future economic order, only that this should not be a liberal market economy left to its own devices, but a consciously controlled and socially controlled market economy ”. Müller-Armack was concerned with an “ institutional anchoring of their dual principle in the economic order”, which he understood as “bringing the diverging objectives of social security and economic freedom to a new kind of balance”. The trend-setting purpose of the social market economy is to "combine the principle of freedom in the market with the principle of social equality". He called the social market economy an Irish (peace-making) formula that tries to "bring the ideals of justice, freedom and economic growth into a reasonable balance."
According to Karl Georg Zinn, Müller-Armack is closer to the teachings of Wilhelm Röpke and Alexander Rüstow than to those of the purist Eucken, who is a purist of order theory. He gave “social policy and state economic and structural policy a far greater weight than Eucken, for whom social policy seemed necessary at best as a minimal program against extreme grievances and considered economic policy to be simply superfluous, even harmful, because an ideal market economy like him In his order theory, he meant that he would have no more cyclical business cycles and crises at all. ”The following table compares the concepts of ordoliberalism and Alfred Müller-Armack's central economic policy idea of the social market economy based on the work of Josef Schmid:
| Ordoliberalism (Eucken) | Social market economy (Müller-Armack) |
|---|---|
| Pure regulatory policy | Regulatory and process policy |
| Qualitative economic policy | Also quantitative economic policy |
| Strictly scientific concept with clear theoretical boundaries | Pragmatic approach; soft demarcation; Individual decisions |
| Deriving all problem solutions from maintaining order | Furthermore, the need for state intervention to create social equilibrium or to correct market results |
| “Correct” economic policy removes the need for social policy | Separate areas of economic and social policy; Attempt to balance "freedom" and "(social) security" |
| Static concept | Continuous development; Adaptation to new challenges |
Müller-Armack advocates “social interventions” by the state, provided that they are “subject to the principle of market conformity”, which means that only those political measures are taken “that secure the social purpose without interfering with the market apparatus”. Ingo Pies comes to the opinion that, according to Müller-Armack, it can be stated very precisely what politics should not do. But in a positive sense, this principle can only guide the choice of the method of political intervention, not the degree of its application. Heiko Körner takes the view that Müller-Armack made "no concrete statements about the principles and elements of a 'market-compliant social policy'" and that "every interpreter of this 'open-ended model' weighting according to his interests and political preferences" in the area of tension between economic efficiency on the one hand and social justice on the other hand. Nonetheless, Müller-Armack “theoretically” considered the greatest conceivable redistribution of income possible, “without coming into conflict with the rules of the market”.
When Müller-Armack propagated a second - socio-political - phase of the social market economy at the end of the 1950s, he had an expansion of social policy beyond its traditional core with regard to the provision of public goods in the areas of education and health, urban planning and energy and environmental issues as well further questions in mind. In 1975, Müller-Armack formulated a haunting criticism of the advance of democratic socialism, an interventionism that burdens the economic and political framework of the social market economy, in which a number of individual measures are used to bring about a fundamental change that is directed against the core of the market economy. Among these anti-market regulations, Müller-Armack includes parity co-determination and the demand for a redistribution of assets .
Leonhard Miksch
Less well known is the role of the social democrat and ordoliberal Eucken student Leonhard Miksch in the emergence of the social market economy. With his habilitation thesis “Competition as a task” (1937), in which he declared the competition a “state event”, he was “a representative of the Freiburg School and ordoliberalism in the narrower sense”. A few months after he was appointed institutional successor to Walter Euckens at Freiburg University, he died at the age of 49.
From the beginning of 1948 Miksch Erhard was the closest employee in the Frankfurt Economic Council (the predecessor of Müller-Armack, so to speak) as head of the department for “Basic pricing issues and business administration”. Long before Erhard he used the term “social market economy”: at the end of 1947 in a specialist journal and in January 1948 in an internal memorandum “in which he made the linguistic change from the 'free' to the 'social' market economy”, while Erhard continued until the middle 1948 spoke of "free market economy" or simply of "market economy".
Above all, it was Miksch, "who became the pioneer of the price-political support of the currency reform and who gave Erhard's ideas". He “drafted the first principles of economic policy for the transition period following the currency reform”. Because, according to Gerold Ambrosius , "the draft of the 'guiding principles law' [...] almost literally agreed with Miksch's 'principles' [...]". Therefore, according to Ambrosius, "it is not without irony that the bill of all things, which was to have a decisive influence on the further development of the western zone and the federal republic under Christian-Democratic leadership as well as the economic program of the Union, was drafted by a social democrat" ⸮
Ludwig Erhard
Ludwig Erhard , who is usually seen as the executor of the social market economy, took the view: "The freer the economy, the more social it is." For Erhard, maintaining free competition was one of the most important tasks of the state based on a free social order. Free competition is the best way to create wealth across societies. As a result, in a market economy that is properly managed in terms of regulatory policy, the need for traditional social policy is decreasing due to increasing prosperity. His vision was the utopia of a depoletarianized society of property citizens who no longer needed social security.
Erhard was much more committed to the liberal and market economy component than the creators of the theoretical concept of the social market economy. However, Erhard used the integration effect in favor of an overall market economy, which could be achieved with this label in a controversial political environment after the Second World War. For Erhard, freedom was superior to all forms of state control and tutelage and, moreover, indivisible. And according to Hans-Rudolf Peters, Erhard was skeptical of collective compulsory insurance because of his liberal approach . But he did see that society had to "draw limits or set rules through social, economic and financial policy measures".
With the concept of people's capitalism, he tried to create a freer and more equal society. Erhard justified his idea of the broad accumulation of wealth as follows: "If a concentration of the means of production is inevitable with the development of modern technology, then this process must be countered by a conscious and active will to a broad, but genuine co-ownership of that economic productive capital." Individual attempts to put the concept of people's capitalism into practice were largely ineffective. Since 1957, the social market economy has been reinterpreted from Erhard's interpretation of national capitalism to a market economy with an independent welfare state. Only then did the term social market economy become the central consensus and peace formula of the middle way (for details see section “ Setting the course for social policy ”).
Securing the value of money was also of great importance to him, in particular through an independent central bank . For Erhard, the social market economy was inconceivable without a consistent policy of price level stability . Only this policy would ensure that individual sections of the population do not enrich themselves at the expense of others. In order to guarantee the efficient use of productive capital, liability also belongs in addition to the right to private property. The owners of productive capital should not only appropriate the profits, but should also bear full liability for wrong decisions made.
When the trade unions were still calling for a comprehensive "reorganization of the economy" (Munich basic program of 1949) with the core element of economic co-determination, Erhard declared in 1949 that a clear dividing line had to be drawn: participation was an element of the free market economy, whereas co-determination was part of it Area of planned economy. Adenauer, who at that time was wrestling with the trade unions for a codetermination regulation, also demanded by the Allies, immediately took this statement as an opportunity to request Erhard by telegraph "not to comment publicly on the question of the employee's codetermination right".
In the opinion of Kurt H. Biedenkopf , the actual political development took a different direction in all respects than Erhard wanted during the reign of the Union. the restriction of the state propagated by Erhard could not be realized politically. In 1974 Ludwig Erhard declared that the era of the social market economy had long since ended and that he saw current politics as far removed from his ideas of freedom and personal responsibility.
Theoretical foundations
Conceptually, the social market economy is based u. a. to ideas that were developed by a number of scientists in the 1930s and 40s with different accentuations and subsumed under the - now ambiguous - expression neoliberalism . For Germany, the Freiburg School (see Ordoliberalism ) played a special role in this direction . The social market economy is a. based on these ideas, but at least sets different accents through greater pragmatism , for example with regard to process-political influencing of economic policy and a stronger emphasis on social policy.
Catholic social doctrine or, more generally, Christian social ethics can be seen as a further important influence on the conception of the social market economy . Their reception can be seen in particular in Müller-Armack, Röpke and Rüstow. This applies, for example, to the anthropological foundation, where the influence of Christian social teaching leads to the image of the socially bound person appearing alongside the individualistic, liberal image of man. The social market economy is indirectly influenced by the “Protestant deep grammar of ordoliberalism” ( Jähnichen ). The concept of the social market economy also included preparatory work by the Freiburg Circle , in which Erwin von Beckerath , Walter Eucken and Franz Böhm also took part in members of the Confessing Church such as Helmut Thielicke and - on occasion - Dietrich Bonhoeffer .
It is controversial to what extent Franz Oppenheimer's "liberal socialism" , with whom Erhard studied in Frankfurt and which had a strong influence on him, can be seen as a further influence on the development of the social market economy.
Walter Eucken
Walter Eucken is considered to be the most important thought leader in the social market economy . As early as 1942, Walter Eucken called for the total restructuring of the economic system. He turned against a completely free economy ( laissez-faire ) and against the so-called night watchman state , as well as against a state-controlled economy .
“[It] is a great task to give this new industrialized economy [...] a functioning and humane economic order. […] [F] inoperative and humane means: In it, the shortage of goods […] should be overcome as far as possible and continuously. And at the same time a self-responsible life should be possible in this order. "
Eucken developed the basic principles of a competitive order that guarantees efficiency and freedom through the unhindered action of the competitive process. For Eucken, the constituent principles of the competition order are a functioning price system, the primacy of currency policy, free access to the markets, private ownership of means of production, freedom of contract, the principle of liability and a constancy of economic policy. A policy geared towards this must take into account the togetherness of the constitutive principles of such a competitive order, as well as the interdependence of the economic order with other areas of life.
According to Eucken, there are areas in which the constituent principles of the competition order are not sufficient to keep the competition order functional. He names social policy, efficiency-related monopoly positions, income distribution , labor markets and environmental problems. The last four areas mentioned coincide with the regulatory principles elaborated by Eucken. However, the measures required to enforce the regulatory principles must not be implemented through a selective economic policy, but must be based on the principles of the economic constitution.
Eucken explicitly devoted a great deal of space to the social question . For Eucken there is no conflict of goals between freedom on the one hand and social security and social justice on the other, since freedom is the prerequisite for security and justice. For Eucken, correctly understood social policy is saved in a regulatory policy. Before the state takes action, politics should give individuals the opportunity to secure themselves. Efficiency-related monopoly positions are to be prevented by an independent cartel office . The distribution of income resulting from competition needs a regulatory correction for households with low incomes, for example through income taxation with a progressive rate profile . There may be a need for regulatory action on the labor market if wages fall below the subsistence level and if you are unemployed. These problems can be largely solved through optimal competition on the supply and demand side. In certain circumstances, however, minimum wages are advocated. Eucken demanded the disempowerment of the employers 'and workers' associations, which dominated the labor market and thereby restricted competition. However, unions played an important role in balancing out the inequality of the market positions of workers and employers. In environmental policy , government intervention is seen as necessary to limit external effects .
For Eucken, the most important economic and political task of the state was to prevent the concentration of economic power through monopolies, cartels and other forms of market domination. State monopoly power was just as problematic.
Wilhelm Röpke and Alexander Rustow
The advocates of sociologically shaped neoliberalism demanded that social and socio-political goals be pursued in addition to the task of guaranteeing functioning competition. According to Gero Thalemann, they saw this as an obligation of the state to intervene actively, but in conformity with the market, in the market economy.
According to Röpke and Riistow's conviction, a market economy cannot survive if it does not exist on an ethical and moral basis that the market does not create itself. Röpke names human qualities such as self-discipline, honesty, fairness and moderation. These are imparted in human society and in the family. With the formula “market economy is not everything”, Röpke warned of the threat of competition degenerating if one neglected the anthropological-sociological framework.
The concept of vital politics was developed by Alexander Rustow and Wilhelm Röpke. The core idea is that the market forces must be given a life-orientated regulatory policy. It cannot be an automatic consequence of the free market, but it is an ethical prerequisite for a legitimate market economy. In the 1960s, Müller-Armack stated that there was still a lot of catching up to do in the area of vitality politics.
Other influences
Discussion about the relationship to the Austrian school
According to Gerhard Stapelfeldt , Müller-Armack referred mainly to Walter Eucken and Friedrich August von Hayek, that is, to the neoliberalism of the Austrian school of marginal utility theory and to ordoliberalism, a variation of neoliberalism. Ingo Pies is also of the opinion that Müller-Armack was influenced by Ludwig von Mises and Friedrich August von Hayek , among many others, in the conception of the social market economy , referring to a letter from Müller-Armack. Christian Watrin writes: “Alfred Müller-Armack developed his conception using approaches that can already be found in Alexander Rustow [Free Economy - Strong State, 1933]. At the same time, his considerations include the works of the Freiburg circles [Walter Eucken, Adolf Lampe, Constantin von Dietze] […], the works of emigrants, among them especially Röpke [Die Gesellschaftskrisis der Gegenwart, 1943], the Misessche Interventionism Critique (1929), but also Hayek's The Path to Servitude (1945). ”In Knut Borchardt's view, it is precisely with regard to this open approach of the social market economy that the agreement with Friedrich August von Hayek's ideas is mostly underestimated. In a birthday eulogy, Erhard stated that "without Walter Eucken, Franz Böhm, Wilhelm Röpke, Alexander Rustow, FA von Hayek, Alfred Müller-Armack and many others who thought and argued with them", his own contribution to the foundation of the social market economy would hardly be possible would have been. The Erhard biographer Christoph Heusgen particularly praised the three main representatives of neoliberalism Hayek, Röpke and Eucken as spiritual sources of Erhard's ideas and deeds.
Kathrin Meier-Rust comes to the conclusion that the theories of the old and palaeoliberals von Mises and von Hayek are incompatible with those of the neoliberals (in the historical sense) such as Eucken, Rustow and Röpke. She refers to a letter by Rüstow to Röpke, in which the latter wrote that the old liberals “have so much to be reproached for, [we] have such a different spirit from theirs that it would be a completely wrong tactic [...] with the reputation of the To blotch insanity, obsolescence and playfulness, which is rightly attached to them. No dog will eat these yesterday's hands anymore, and rightly so. "Hayek and" his master Mises should be put in the museum in spirit as one of the last surviving specimens of that otherwise extinct class of liberals who conjured up the current catastrophe. " Sybille Tönnies also sees the incompatibility. According to Gero Thalemann, Müller-Armack's ideas are not compatible with those of Hayek, since Müller-Armack assumed that the market economy alone would not be able to guarantee social justice. Hayek, on the other hand, was of the opinion that a policy of distributive justice would destroy the rule of law . Unlike Hayek, who resolutely rejected any application of the concept of justice to evaluate concrete distribution results (e.g. the demand for a more equitable distribution of income), according to Wilga Föste, the pioneers of the social market economy explicitly referred to the concept of social justice in connection with the question of distribution , where they associated the concept primarily with the idea of commutative exchange justice. Joachim Starbatty concludes from the consensual stance towards a socio-political overload of the social market economy that the regulatory differences between Hayek and the other representatives of the social market economy were not as serious as the occasional regulatory clash of arms might lead one to believe. The differences between Hayek and the representatives of the social market economy only begin where the latter see a need for redistribution. As an example, Starbatty quotes Walter Eucken with the sentence “The inequality of incomes means that luxury products are already produced when the urgent needs of households with low incomes still require satisfaction. So here the distribution that takes place in the competitive order needs to be corrected. ”According to Reinhard Zintl, however, it was important for Hayek that the redistribution was not about correcting supposed injustices in the competitive process, but about collective responsibility. According to Zintl, the scope of what is politically considered necessary could legitimately be far above the physical subsistence level for Hayek in prosperous societies. Another difference to the ideas of the Austrian School around Mises and Hayek is that they trusted the competition of individuals as a discovery process far more than the state framework. The state played a much lesser role for them as a standard.
Hayek felt pronounced sympathy for the achievements of Ludwig Erhard in the "restoration of a free society in Germany", but was by no means on the line of the pioneers of the social market economy such as Eucken or Müller-Armack and in open dispute with Röpke and Rüstow. Martin Nonhoff , Alan O. Ebenstein, Ralf Ptak, Reinhard Zintl, Chíaki Nishiyama, Kurt R. Leube and many others quote Hayek as saying that he regretted speaking about the social market economy, although some of his friends succeeded in doing so, thanks using this language to make the kind of liberal social order he advocates appealing to wider circles. According to Martin Nonhoff, Hayek's preferred order is a spontaneous economic order, i.e. one that is as free as possible from any state control or discipline. On the other hand, Oswald von Nell-Breuning emphasized that “the commitment to the 'social market economy' always goes hand in hand with the conviction that it is possible and necessary to steer the economy,” says Martin Nonhoff. He concludes from this that “the conglomerate of possible predecessors of the conception of the social market economy” is not only full of points of friction, but also full of formidable contradictions that make the search for an actual meaning of the “social market economy” fail because of its historical origins. According to Otto Schlecht , Hayek does not deny that the state has an important role to play in every economic and social system. However, Hayek simply denied that there could be a social market economy at all, because a social market economy is not a market economy. According to Ralf Ptak , Hayek's criticism of the term “social market economy” should not be interpreted as a rejection of the ordoliberal approach, rather Hayek was concerned that this use of language could lead to an inflation of the welfare state . According to Josef Drexl, however, Hayek considered the welfare state and thus also the social market economy of German characteristics to be a mish-mash of inconsistent goals. The welfare state collides with one of Hayek's basic ideas, namely the spontaneous order according to which the result of economic activity cannot be assessed as such and therefore should not be predetermined by welfare state policy. For Ludwig Erhard, “nothing was more anti-social than the welfare state […], which relaxes human responsibility and lets individual performance decline.” According to Harald Jung, however, the conception of the social market economy (by Müller-Armack) cannot be used in any case Claim the rejection of social justice as a normative target in the sense of Hayek.
According to a personal memory by Joachim Starbatty , there was an opportunity at a colloquium in Cologne at which Müller-Armack and Hayek “arm in arm” criticized the “socio-political overload” of the social market economy, which was pursued by all parties . Starbatty concluded from the observation that the regulatory differences "between Müller-Armack, Ludwig Erhard, Walter Eucken, Alexander Rustow and Franz Böhm on the one hand, and Friedrich August von Hayek on the other hand were not as serious as the occasional din of gunfire might lead us to believe."
Friedrich Kießling and Bernhard Rieger emphasize an increasing alienation, which was also evident in the Mont Pelerin Society , where two wings were formed. The radicalizing American wing around von Hayek, von Mises and Friedman advocated an “adjective-free” market economy without state intervention . In contrast, there was the German wing, mainly represented by Rustow, Röpke and Müller-Armack, who advocated the social market economy and more active responsibility for the state as a comprehensive social, vital and social policy. These accused the American wing of betrayal of the actual goals of neoliberalism and emphasized the dangers of a morally "blunted and naked economism ".
Discussion about the relationship to socialism
The liberal socialist Franz Oppenheimer is counted among the pioneers of the social market economy. The founding fathers of the social market economy, Ludwig Erhard and Walter Eucken, were among his students. Franz Böhm and Alexander Rustow also belonged to his discussion group. Unlike Oppenheimer, Ludwig Erhard could not imagine an economy without private property. But of the values of Erhard's “social liberalism”, competition, social responsibility, the fight against cartels and monopolies, the dismantling of trade barriers, the free movement of money and capital and the idea of a united Europe (the “Europe of the free and Same ”) can be traced back to Oppenheimer's influence. According to a statement by Erhard, the accent has shifted from “liberal socialism” to “social liberalism”. Ludwig Erhard declared in a commemorative speech (1964): “Something impressed me so deeply that I cannot lose it, namely the examination of the socio-political questions of our time. He recognized "capitalism" as the principle that leads to inequality, indeed that actually establishes inequality, although nothing was further from him than a dreary leveling out. On the other hand, he hated communism because it inevitably leads to bondage. There must be a way - a third way - that means a happy synthesis, a way out. I tried, almost in accordance with his mandate, in the social market economy to try to show a not sentimental but a realistic path ”. According to Volker Hentschel, liberal socialism and the social market economy are "fundamentally different things in terms of their intellectual origins and were not communicated with one another by Erhard's economic policy concept." Bernhard Vogt sees Franz Oppenheimer as perhaps the most important thought leader in the social market economy.
According to Werner Abelshauser , in contrast to Erhard, Müller-Armack saw a meaningful connection between an active social or socialist economic policy and a market economy. Ralf Ptak sees a clear opposite position to socialism: “With the activation of the old neoliberal thesis of the unstoppable transformational character of the welfare state, the aggressive position against socialism and a renewed emphasis on regulatory principles, the social market economy was conceptually reverted to its origins by Müller-Armack Neoliberalism returned. The enemy image of socialism primarily meant democratic socialism in the form of Western European social democracy and the emerging Eurocommunism. ”Müller-Armack, who in 1947 wanted to combine“ more socialism with more freedom ”, later distinguished himself more clearly from liberal socialism. Müller-Armack was nevertheless associated with a concept of liberal socialism, similar to the ideas of Gerhard Weisser . According to the Müller-Armack biographer Rolf Kowitz, this was an assumption that was based on the ongoing discrediting of Manchester liberalism, which would not have allowed a combination of the terms “market economy” and “social” historically. These conceptual difficulties still existed in 1955, so that Müller-Armack felt compelled to clearly distinguish himself from Weisser: “The social market economy is primarily a market economy and therefore not to be confused with liberal socialism, with the primary systems of attachment with interspersed economic freedom. There are big differences. "
The concept under discussion
Hans-Rudolf Peters criticizes: “The concept of the social market economy invites, due to its extensive lack of contours and flexibility in the social part, to socio-political abuse for election opportunistic purposes and to capture votes and can thus lead to a creeping socialization, which ultimately destroys the foundations of the market economy. "Ludwig Erhard recognized" the dangers of an overflowing welfare state "early and clearly; renouncing the popular political slogan social market economy for its regulatory policy would have "certainly created more clarity".
Heinz Grossekettler is of the opinion that the expression social market economy is often understood as a market economy with a strong redistributive component. But this was not what their theoretical founders had in mind.
Ralf Ptak is of the opinion that the attacks on Müller-Armack only masked the “real strategic dilemma of German neoliberalism” in the debate on the post-war development of the social market economy. “On the one hand, the extraordinary growth period of the post-war period should be emphasized as a result of the economic policy of the social market economy, which is then interpreted as largely identical to the regulatory principles of the 'new' liberalism. On the other hand, it is necessary to condemn the factual development of the Federal Republic towards a welfare state as the beginning of the economic decline that was initiated by the inconsistent regulatory policy of a compromise-oriented social market economy ”. “The fact is, however, that both Müller-Armack's conception of the social market economy and the economic policy based on it moved precisely between these two poles”.
Friedhelm Hengsbach is of the opinion that “the radical market reference point of the conception” of the social market economy is the “ideal-typical construction of the perfect market ”. The imagination of the invisible hand , of the signaling apparatus of moving prices, of rational decisions of sovereign consumers and of markets that are freed from power under the discovery process of competition delights the reader. But it also proves that the conception of the model is not based on practical research, but on a derivation from a priori premises, i.e. is a pure construct. This makes it almost inevitable that the term social market economy degenerates into a “political battle formula”. He refers to the political initiatives of a “new social market economy”, which selectively pick out individual components of the original and historically enriched conception in order to fight against political opponents with them.
Social market economy as the economic order of the Federal Republic of Germany
General design features
Flexibility and continuity
According to Abelshauser, the social market economy is characterized by three peculiarities, despite the economic policy flexibility shown in practice, which distinguish it from the arbitrariness of rapidly changing models of economic policy.
- Far more than other economic systems, it uses the symbiosis between the market and the state to make competition functional and socially beneficial.
- It supports a strategy of productive regulatory policy. In addition to foreign trade, infrastructure policy in the broadest sense, regional development policy and a job-oriented education and training policy are a task of the state as an important immaterial production factor. At the same time, it also ensures that growing government responsibilities do not inevitably lead to increasing government spending (the share of government spending - excluding social security - has remained relatively stable between 20 and 25% since the end of the First World War).
- It is specifically tailored to the needs of the social system of production as it has developed in Germany (association coordination, co-determination, dual vocational training, etc.).
Social partnership
As a model corresponding to the social-Irish character of the social market economy, the ordoliberals, as well as Christian social doctrine, saw the idea of social partnership in the 1950s , which was later implemented in various legal works. It is now considered an essential element of the social market economy.
Ludwig Erhard, on the other hand, repeatedly criticized the “so-called social partners” who struggled for the distribution of the national product, which he saw threatened the common good. According to Tim Schanetzky, this shows Erhard's exaggeration of the state as the guardian of the common good and its distrust of “group egoisms”.
The regulations on collective bargaining autonomy and company co-determination that existed in the Weimar Republic were repealed by the National Socialists in 1933. The administration of the bizone had already restored collective bargaining autonomy with the collective bargaining act . This regulation was adopted by the Adenauer government. In his government declaration of September 20, 1949, Konrad Adenauer made it clear that in order to achieve the social market economy, a contemporary reorganization of the legal relationships between employers and employees would have to be achieved. Another element of the social partnership was the Works Constitution Act of October 11, 1952, which regulated the co-determination of employee representatives in personal, economic and social matters. In the 1970s, the social-liberal government adopted even more extensive regulations to humanize work processes with the amendment of the Works Constitution Act of 1972 and the Codetermination Act of 1976.
The trade unions initially tried to combat the social market economy in the founding phase and sought a different economic order. In the practice of the social market economy, however, it has been possible to involve the trade unions in the economic-political processes precisely through the possibilities of co-determination. Conversely, the trade unions in the social partnership have helped shape the social market economy. Continued payment of wages in the event of illness, social plans, extended participation rights and minimum wages are among the social achievements that contributed to the general popularity of the social market economy.
In an article for the Frankfurter Allgemeine Zeitung , the labor lawyer and publicist Bernd Rüthers sums up : “My thesis: the social market economy and social partnership belong together. One is a necessary basis for the other. ” Karl-Heinz Paqué considers collective bargaining autonomy and the welfare state to be“ constitutive elements ”and“ pillars of the social market economy ”. According to Birger Priddat , co-determination as a core element of the social partnership binds the partners to the purpose of the cooperation: "Maintaining a social market economy".
The President of the Confederation of German Employers' Associations , Ingo Kramer, said on the occasion of the 40th anniversary of the Codetermination Act of 1976: "Codetermination is an expression of the German understanding of social partnership within the framework of the social market economy, which is a foundation of our social system."
Germany AG
The Germany AG was based on the organizational structure of the double joint stock companies whose operational management is governed by the Board, Policy and important personnel decisions but like the board. This double structure enabled strategic networks, institutionalized communicative networks of leading players from business, politics and science who are closely connected in corporate management. Since bank representatives on the supervisory board were able to better control the company, on the other hand, long-term stability of the financing by a house bank or by the shareholders represented by the bank is ensured. As a result, investors until the end of the 1980s were less oriented towards the principle of short-term shareholder value , but rather behaved like shareholders in a family company , whose investment motive is not short-term earnings, but rather the optimization of long-term profit by increasing the value of "their" company. As a result, large-scale industry in West Germany was given a perspective geared more towards long-term sustainability until the early 1990s.
Further design features
General design features of the social market economy as the economic order of the Federal Republic of Germany are above all the free price formation for goods and services, the pursuit of profit as a performance incentive, an independent central bank , collective bargaining , an active state economic, economic, tax and educational policy and a social network that protects against economic hardship when self-sufficiency is not possible.
State economic policy is carried out on the one hand through regulatory policy and on the other hand through process policy . The regulatory policy aims to set a legal and institutional framework for market processes and to correct market deficiencies . The process policy aims at a stability policy in the sense of the magic square and a correction of the income and wealth distribution as well as the distribution of opportunities in Germany via tax rates and socially differentiated state benefits as well as labor and social legislation.
development
prehistory
In the immediate post-war period, public service approaches were quite popular among the population . However, hesitant approaches were blocked by the USA. Socialist rhetoric also shaped the party programs of the SPD, which strived for "liberal socialism", and the CDU, which propagated "Christian socialism". In retrospect, the impression arose that in the post-war period the free market economy was opposed to the central administration economy. In fact, the positions of the experts and political parties were closer together. Laissez-faire liberalism had been completely discredited since the Great Depression (1929) . However, approaches that are skeptical of the market economy have hardly played a role since the global economic crisis was overcome. As early as the mid-1930s, the regulatory alternative in Germany had narrowed to the alternatives between a “controlled market economy” of reform-liberal origin and the “market-based management economy” of the Keynesian type . The social market economy is by no means a spontaneous idea of the post-war period, but the result of a social learning process that was initiated by the global economic crisis of the 1930s.
Phase of dominance of ordoliberalism (1948–1966)
Setting the course for economic policy
In the time of need after the Second World War, the management system , which had its origins in the war economy, was continued almost unchanged. Planning and steering the economy were then used as a makeshift solution in order to get economic life going again in the first place. In the "era of 1000 calories" (actually: 1000 kcal), nutrition policy control was literally essential for survival for large parts of the population. As Bavarian Minister of Economic Affairs, Ludwig Erhard wrote that the regulation of management and price monitoring could not be dispensed with as long as the disparity between disposable purchasing power and consumption-ready national product persisted.
Unlike the housing infrastructure, Germany's industrial fabric was not significantly destroyed by the Second World War and the reparations. The gross fixed assets had fallen to the level of 1936 by 1948, although the majority of these were relatively new, less than 10 years old systems. Industrial production, however, only reached less than half of the 1936 value. In 1947, measures were taken in the American and British occupation zones to restore the war-torn transport infrastructure. Production rose from autumn 1947 onwards, but the population's supply situation did not improve, as large quantities of stock were produced in anticipation of a currency reform. As director of the two-zone economic council, Erhard ordered a staggered release of prices on June 20, 1948 in direct connection with the currency reform by the Allies . According to the “guiding principle law” drawn up by the ordoliberal Leonhard Miksch , first the prices for consumer goods and later the prices for industrial goods, heating and food were released. Shortly after monetary union, the shop windows were suddenly full, as the hoarded goods could now be exchanged for stable money. This amazed contemporaries so much that many saw the monetary union as the real spark for the economic miracle . In fact, the currency reform was necessary, but it should be put into perspective that the dynamic economic upswing actually began in 1947 (from January 1947 to July 1948, industrial production rose from 34% to 57% from the level of 1936, from the currency reform to the founding industrial production rose to 86% in the Federal Republic). When the prices were released, the so-called breakthrough crisis arose. The cost of living rose faster than hourly wages and unemployment rose from 3.2% in early 1950 to 12.2%. The social component of the social market economy at this time consisted essentially of the already existing system of social insurance, which, according to Henry C. Wallich, made the situation “just about socially acceptable”. The situation on the labor market eased in the wake of the global economic boom following the Korean War. However, the Allied High Commission demanded that Germany make its contribution to Western defense readiness by preferentially expanding the free steel production capacities. This embarrassed Ludwig Erhard, who had meanwhile dismantled the planning staff in the Federal Ministry of Economics. In this situation, the central business associations and the trade unions took the initiative and (in agreement with the Federal Minister of Economics) formed a purchasing cartel that steered raw materials away from the consumer goods industry and towards heavy industry. In this way they filled the steering loophole that Erhard's economic policy had deliberately left and strengthened their influence considerably. This fundamentally changed the framework conditions for the social market economy; the Korean crisis accelerated the renaissance of the corporate market economy.
After the establishment of the Federal Republic of Germany, further important regulatory decisions were made. So z. B. the anchoring of collective bargaining autonomy through the Collective Bargaining Act of 1949 and the regulation of company co-determination (in social and personal questions) and participation (in economic questions) of employees through the Works Constitution Act (1952). The trade union conception for the reorganization of the economy with its core element of economic co-determination and the ordoliberal conception of the social market economy were diametrically opposed in the first decade of the Federal Republic. The Bundesbank Act of 1957 gave the Deutsche Bundesbank price level stability as its most important goal. However, participation in the Bretton Woods system from 1949 to 1973 meant that the Deutsche Bundesbank often had to buy foreign currency to support the fixed exchange rates , which increased the money supply and thus inflation, but at the same time led to an undervaluation of the DM and thus to it favorable export conditions. Price level stability only had a real priority from 1973 onwards. The chronic undervaluation of the D-Mark up until 1973 contributed greatly to the rise of the German automotive industry.
The creation of perfect competition by fighting market power was a central concern of the ordoliberals, which Miksch also represented in the Federal Ministry of Economics. However, the resistance of German industry to the first drafts of competition law was rigorous and successful. It was not only borne by the self-interest of the corporations, but also by the real danger that the radical suppression of the economic concentration process through a strict competition policy would have endangered the international competitiveness of German industry compared to large foreign corporations due to the economies of scale . The “naive” idea of the ordoliberal economic utopia of a market economy made up of small and medium-sized enterprises was seen as a threat to the German export economy and the economic recovery as a whole. In 1958 the law against restraints of competition was finally passed and the Federal Cartel Office was founded to serve the model of free competition. Cartels were banned in principle, but exceptions were made for conditions, discounts, foreign, structural crisis, export and rationalization cartels. However, this was far from ordoliberal ideas. Franz Böhm publicly acknowledged the defeat in what, according to ordoliberal ideas, should have become the core element of the German economic order. In 1949, Miksch told Walter Eucken : “We now have to seriously consider moving away from the current government course. The Adenauer cabinet turns out to be more and more of an interest government. Agricultural and heavy industrial influences have combined. We can no longer watch. It will be said later that it was our ideas. "
Setting the course for social policy
In the early days of the social market economy, the existing social safety net continued to exist, which essentially consisted of the system of German social insurance that had been founded by Bismarck in the 1880s and since then has been expanded in various ways. With a social benefit quota of 15%, Germany belonged to the top group of European countries. The decision on how to shape the social dimension of the social market economy was initiated on the question of pension reform. The funded statutory pension insurance had largely been devalued by hyperinflation and silent war financing . In order to secure the livelihood of the pensioners, the pension insurance had to be put on a new basis. People's capitalism, the conversion to a welfare state based on the British-Scandinavian model and the more efficient design of the Bismarck social insurance towards a modern welfare state were up for discussion.
According to Erhard, a properly ordered market economy should promise prosperity for everyone . With what is known as popular capitalism , broad wealth accumulation should be promoted. His goal was the utopia of a depoletarianized society of property citizens who no longer need social security. After Lutz Leisering and Werner Abelshauser, Erhard developed the concept of people's capitalism as a counter-concept to the Bismarckian welfare state . However, according to Hans Günter Hockerts , the fact that Erhard did not fundamentally reject the pension reform in the cabinet deliberations speaks against this view . Although he rejected the link between the pension and the development of collective wages, he was in favor of a significant increase in the pension level and the alignment of the pension with the development of productivity. Marc Hansmann, on the other hand, sees "bitter resistance" that Erhard put up against the pension reform. According to Michael Gehler , Erhard preferred mandatory private insurance. Efforts to build wealth on a broad basis, e.g. B. through "people's shares", however, were not able to advance popular capitalism in practice. In 1974 Willy Brandt remarked “that the“ people's capitalism ”that Ludwig Erhard raved about was a dream; the "people's share" will not be noted in social history as a successful experiment. "
The insight into the inadequacy of the distribution of income and wealth resulting from the market mechanism spoke against popular capitalism. The trend towards an unequal distribution of income and wealth was palpable as early as the 1950s. Despite the rhetoric of wealth policy, the claims from statutory pension insurance remained more important than any other source of income for employees' old-age provision, and the volume of statutory pension insurance by far exceeded the volume of wealth accumulation by private households. The high conversion costs spoke against the conversion to a welfare state in the Beveridge system . The pension reform of 1957 showed that the German Bismarckian social insurance tradition had prevailed both against more comprehensive Beveridge systems based on the principle of citizenship and against Ludwig Erhard's shrunken version of welfare state intervention. As a result of the pension reform, the old-age pension was no longer regarded as an allowance for maintenance, but as a replacement for wages. The standard pension should now comprise 60% of the current average wage of all insured persons (in 1956 it was only 34.5%). Like no other event, the pension reform has restored the confidence of the German citizens in the welfare state and permanently strengthened social peace. The formula social market economy has been reinterpreted since 1957 from Erhard's interpretation of national capitalism to a market economy with an independent welfare state. Only then did the term social market economy become the central consensus and peace formula of the middle way.
Economic miracle
The period between the end of the Second World War and the first oil crisis was characterized by high economic growth rates and high income increases ( post-war boom ). At the same time, the income levels of the Western European countries and the USA became more similar. Unemployment fell, there was relative price stability and employee incomes rose. The message “Prosperity for all” given by Erhard as a goal seemed achievable in the foreseeable future. However , Erhard himself rejected the much-cited expression " economic miracle ". In Germany, the post-war boom was for a long time viewed as a specifically German development and the reasons for the boom were therefore only sought in German economic policy. In the 1970s, a connection to the war damage was established (reconstruction thesis). In the late 1970s, economic historians discovered that an outstanding post-war boom had occurred across Western Europe and Japan. The thesis was put forward that the economies that had the relatively lowest productivity after 1945 produced the highest productivity gains and the highest economic growth until the 1970s (catch-up thesis). The interpretation of the post-war boom is still not entirely uniform among economic historians and economists. However, the view has largely gained acceptance that the reconstruction effect played a major role until the end of the 1950s and the catch-up effect until the beginning of the 1970s.
Herbert Giersch , Karl-Heinz Paqué and Holger Schmieding explain the German post-war boom with the ordoliberal regulatory policy. The upswing was initiated by a market economy shock therapy as part of the currency reform. A cautious monetary and fiscal policy led to persistent current account surpluses. The growth of the 1950s was driven by the spontaneous market forces of a deregulated economy and ample corporate profits. Increasing regulation, higher taxes and rising costs would then have slowed growth from the 1960s onwards. Against this point of view, for example Werner Abelshauser or Mark Spoerer object that a West German special development is postulated, but does not correspond to the facts. There was not only a German economic miracle, but also z. B. a French. French economic growth in the 1950s to 1970s was almost parallel to that in Germany, although the social market economy in Germany and the more interventionist planification in France represented the strongest economic and political contradictions in Western Europe. This suggests that the various economic policy concepts have little practical importance as long as property rights and a minimum of competition are guaranteed. According to Thomas Bittner , French economic policy did not follow a closed concept. The policy recommendations of the concept of the social market economy are also imprecise, so that a theoretically well-founded overall regulatory concept is missing in both countries. According to Bittner, due to considerable research gaps, it is still not possible to assess whether and to what extent the conceptions of the social market economy on the one hand and planification on the other hand contributed to the high economic growth of the post-war period in Western Europe.
The reconstruction thesis was developed in rejection of a specifically German interpretation. According to the explanatory approach developed in the 1970s by Franz Jánossy , Werner Abelshauser and Knut Borchardt in particular , productivity growth remained far below the potential production potential of the German and European economies due to the effects of the First and Second World Wars and the intervening global economic crisis. Abelshauser was able to show, following contemporary work, that the extent to which German industry was destroyed in the war had been greatly overestimated in literature. While the Allies had succeeded in destroying entire cities, the targeted destruction of industrial facilities had hardly succeeded. In spite of all the destruction, there was therefore a significant amount of intact capital stock, highly qualified human capital, and tried and tested corporate organization methods. Therefore, after the end of the war, there was particularly high potential for growth. Due to the falling marginal return on capital, the growth effect of investments was particularly high at the beginning of the reconstruction and then declined as the economy approached the long-term growth trend. The Marshall Plan is not considered to be of great importance for the West German reconstruction, since the aid started too late and had only a small volume compared to the total investment. A “mythical exaggeration” of the currency reform is also rejected. The reconstruction process began a year before the currency reform with a strong expansion of production, which was the decisive prerequisite for the success of the currency reform. A comparison of economic growth rates reveals that countries that had suffered considerable war damage and a tough occupation regime recorded particularly high growth rates after the Second World War. In addition to Germany, Austria, Italy, Japan, the Netherlands and France experienced rapid catch-up growth of (on average) 7–9% annually between 1945 and 1960. Countries less severely affected by the war or neutral countries experienced economic growth of “only” 3–4%. According to Ludger Lindlar, the reconstruction thesis therefore offers an explanation for the above-average growth rates of the 1950s. But only the catch-up thesis can explain the high growth in the 1960s.
The catch- up thesis put forward by economic historians Angus Maddison and Moses Abramovitz in 1979 is represented today by numerous economists (including William J. Baumol , Alexander Gerschenkron , Robert J. Barro and Gottfried Bombach ). The catch-up thesis indicates that by 1950 the USA had achieved a clear productivity lead over the European economies. After the war, the European economy started a catch- up process and benefited from the catch-up effect . European companies were able to follow the example of American companies. Figuratively speaking, the catching-up process took place in the slipstream of the leading USA and thus allowed a higher pace. After the productivity level of the American economy had been reached and the catching-up process had come to an end, the Western European economy stepped out of the slipstream at the beginning of the 1970s, so that growth rates as high as in the 1950s and 60s were no longer possible. The catch-up thesis can be the different high growth rates z. B. between the USA and Great Britain on the one hand and Germany or France on the other. According to an analysis by Steven Broadberry , z. For example, Germany has a strong productivity growth potential by reducing low-productive sectors such as agriculture in favor of high-productivity sectors such as industrial production. There was no such potential for the more industrialized Great Britain. While only 5% of the working population in Great Britain worked in the agricultural sector in 1950, it was 24% in Germany. According to an econometric analysis by Ludger Lindlar, the catch-up thesis for the period from 1950 to 1973 offers a conclusive and empirically well-supported explanation for the rapid productivity growth in Western Europe and Japan.
End of the ordoliberal phase
In 1954, Ludwig Erhard remarked to Chancellor Adenauer that it was becoming increasingly difficult to brand the political opponent SPD as a planned economy party, since their economic criticism concentrated almost entirely on the lack of economic security. However, he was convinced that an economic policy based on the economic theory of ordoliberalism would be able to overcome economic cycles. But even among Ludwig Erhard's partisans, there was some criticism of the abstinence in planning and economic policy. Alfred Müller-Armack had called for a second phase of the social market economy in which economic policy should play a certain role.
In the mid-1960s there were increasing signs that the boom during the reconstruction phase was coming to an end. The growth rates were still relatively high, but in retrospect it was clear that the growth had decreased from cycle to cycle. At the end of 1966, the Federal Republic was confronted with its first slight recession, which, however, hit the “economic miracle” completely unprepared. Erhard was criticized for the first time not only by the opposition, but also by the business press and the Advisory Council for the first time because of his economic policy. The crisis had far more serious political than economic consequences, it led to the end of the Erhard era.
Global control phase (1967–1982)
The second phase of the social market economy began in the mid-1960s, in which economic and socio-political ideas of democratic socialism shaped the design of this economic order. This design was also associated with the concept of the social market economy in public opinion.
The Stability Act of 1967, which resulted in a change of course towards an active economic policy , was of great importance . The then Minister of Economics, Karl Schiller, described it as the “procedural constitution”, which supplements the “regulatory constitution” of the Cartel Act. He saw this as a “symbiosis of the Freiburg imperative and the Keynesian message”. In practice, the post-Keynesian concept of global control should permanently dampen economic fluctuations. The concept was initially extremely successful in terms of employment policy. Full employment was restored and maintained until the mid-1970s. However, the problem of monetary stability came to the fore. The oil crises of the 1970s increased price pressures from imported inflation. Economic growth has also cooled down worldwide since the 1970s. This made fine-tuning the economy more and more difficult. The concept of wanting to completely smooth out economic fluctuations is now largely regarded as outdated. According to the majority view, economic policy in the form of post-Keynesian fiscal policy is still necessary in the "Keynesian situation" of a more severe economic crisis (such as the financial and economic crisis since 2007 ), since monetarist monetary policy and automatic stabilizers reach their limits in the liquidity trap situation . The economic policy objective set by the Stability Act, to observe the requirements of economic equilibrium and to align economic policy with the magic square, has remained permanent .
The Co-Determination Act of 1976 introduced an extended co-determination compared to the Works Constitution Act of 1952. In companies and groups with more than 2000 employees, the supervisory board has since been made up of equal numbers of representatives from the shareholders and employees. In the event of a tie in votes, however, the vote of the chairman of the supervisory board (provided by the employer) is decisive. The Codetermination Act should serve to humanize the world of work, in that not only the interests of the shareholders but also the interests of the employees are heard. Right from the start, codetermination in Germany aimed to reduce transaction costs . In-house transaction costs are lower, the more pronounced the possibility of trusting cooperation is, while on the other hand the transaction costs are higher, the more cooperation is only possible with the help of formal rules and coercive measures. Long-term stable and low-conflict working relationships enable companies to invest in the training and further qualification of their employees on a long-term basis. This is one of the prerequisites for entrepreneurial success, especially under the conditions of the rapid increase in intangible value creation in the post-industrial society or the knowledge society , because intangible value creation is based i. d. Usually on specific knowledge that is not easy to replace and the productive implementation of which is not easy to control. At the same time, companies have a greater incentive to make cost-intensive investments, which is strengthening Germany as a location, especially in times of structural change. Precisely because of the continuous advancement of the division of labor and immaterial production, which fundamentally increase transaction costs, the co-determination institution has also been able to thrive in practice. According to Jürgen Schrempp , codetermination is part of the German model that prevents short-term profit maximization at the expense of necessary investments in the future.
In social policy there was a further expansion of the welfare state. The pension reform of 1972 extended insurance coverage to larger parts of the population such as the self-employed, students, housewives, farmers and the disabled. Critics saw this as a further decoupling of the contributions from the benefits and, in general, a dilution of the insurance character.
Phase of dominance of regulatory policy and offer orientation (1983–1989)
The turning point of 1982/83 had the goal of ending the demand policy of the 1960s and 70s and moving to a supply policy that was supposed to restore full employment. She followed the international trend ( Reagonomics , Thatcherism and the “politique de rigueur” by François Mitterrand ). The Deutsche Bundesbank and later the European Central Bank pursued a restrictive interpretation of monetarist monetary policy more decisively and for longer than other central banks, but the restrictive monetary policy was nowhere successful. In practice, the federal government pursued a policy mix that still included a certain control of economic development through fiscal policy. The intended cut in subsidies remained rhetoric, and social spending continued to expand after initial cuts. Tax cuts reduced the tax burden by a total of DM 63 billion , but had no significant impact on investment and economic growth. Unemployment has fallen somewhat in the wake of the global economic recovery since 1983, but then rose to new record levels in the 1990s. The growing unemployment trend observed since the 1970s remained unbroken.
German Unity (1990)
The social market economy was defined in the Treaty on Monetary, Economic and Social Union of May 18, 1990 as the common economic order of reunified Germany. It was determined in the State Treaty in particular by private property, performance competition, free price formation and, in principle, full freedom of movement for labor, capital, goods and services (Article 1 paragraph 3).
Based on the historical model of the economic miracle , in 1990 Federal Chancellor Helmut Kohl, as well as most German politicians and most West German economists, believed that they could unleash a kind of economic miracle in the five new federal states simply by unleashing market forces through regulatory policy. The government essentially followed a bulletin by Ludwig Erhard in 1953, in which he had planned the economic completion of reunification. Erhardt assumed that German reunification would “set free forces in political, economic and human terms”, “of whose strength and power the school wisdom of the planned economy cannot dream of”. Konrad Adenauer was already more skeptical at that time; in his opinion, industry and agriculture in the GDR were in poor condition. “Post-reunification work in this area is tantamount to a new colonization. As a result, the economic strength of the Federal Republic will be absorbed for years to come. ”In addition to the poor state of the East German economy, the failure of the monetary, economic and social union to set a much too high exchange rate for the Ostmark for the D-Mark weighed on economic success East Germany. The overvaluation eliminated international competitiveness, with the expiry of the transfer ruble offsetting on December 31, 1990, East German exports collapsed suddenly. The high exchange rate also did not correspond to the historical model, the currency reform planned in the United States in 1948 had led to an undervaluation of the D-market, which had increased the international competitiveness of the young Federal Republic. In the end, the economic miracle of the 1950s and 1960s proved unrepeatable.
Change since 1990
At the beginning of the 1990s, Michel Albert underlined what he believed to be the economic and social superiority of the German model in a much-noticed comparison of the German and American economic systems. He suspected, however, that Rhenish capitalism would have to retreat under the political, media and cultural influences of its American rival.
From the mid-1990s onwards, the process of privatization , deregulation and denationalisation that began tentatively in the 1980s accelerated considerably. The liberalization of the financial sector had a particularly drastic effect. With the amendment of the corporate income tax law through the tax reform 2000 , the Deutschland AG was to be smashed, since according to Hans Eichel the German model of a tightly intertwined economic relationship landscape had frozen and no longer met the requirements of global markets. There was a reorientation away from the stakeholder value approach of optimizing the long-term company substance and perspective towards the shareholder value approach that has always been common in Anglo-Saxon countries , the orientation towards short-term profit expectations. Together with a change in accounting practice (towards international standards) and a more profit-oriented manager remuneration, this had a corresponding effect on the business policy of large German companies. There was also an institutional change in the banking guild. In the early 1990s, the spokesman for the board of Deutsche Bank was recognized as an authority inside and outside the banking sector and intervened as the last instance of Deutschland AG in the event of undesirable developments. The reputation-conscious business policy gave way to the lure of highly speculative transactions, especially the trading of derivatives .
In view of this series of processes in the wake of German unification, Karl-Heinz Paqué is of the opinion that the "regeneration of the social market economy [...] has succeeded to a considerable extent".
Werner Abelshauser, on the other hand, warns against a far-reaching adoption of the Anglo-Saxon rules of the game and an exchange of the production regime. Structures that have emerged over the long term can be broken up quickly, but new rules and forms of organization can only be slowly established. The success of such radical operations also remains uncertain. Rhenish capitalism contributed to the fact that the productivity of the German economy was at the top in international comparison. The ability to innovate is generally not denied even by critics. In addition, the financial and economic crisis from 2007 onwards shows that productive regulatory policy and state frameworks in the sense of the traditional social market economy will by no means become obsolete even under the conditions of globalization, on the contrary, they are more urgently needed than before.
Social market economy as a goal of the European Union
In Art. 3 , para. 3 EU Treaty states in connection with the European single market , the European Union THAT CONDITION "on the sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy based on full employment and social progress, as well as a high level of environmental protection […] ”. This formulation was first introduced in 2004 in Article I-2, Paragraph 3 of the EU Constitutional Treaty and, after its failure, it was adopted in the Lisbon Treaty , which came into force in 2009. In addition, the EU's economic system is referred to several times in the AEU Treaty as an “open market economy with free competition”, for example in Article 119 of the AEU Treaty, where the EU's economic and monetary policy is committed to this principle. This formulation was already included in the contracting system with the Maastricht Treaty of 1992.
One of the other economic policy goals mentioned in Article I-3, Paragraph 2 of the EU Constitutional Treaty, alongside the social market economy, is also the “internal market with free and undistorted competition”. However, this formulation met with criticism in the public debate and was seen as an expression of an overly liberal development of the EU , especially before the referendum in France , in which the constitutional treaty was rejected in 2005. It was therefore dropped in the Lisbon Treaty, but protection against distortion of competition was defined as part of the European internal market by an additional protocol . Ultimately, neither the wording in the Constitutional Treaty nor in the Lisbon Treaty meant a departure from the previously valid EU competition policy. Art. 3 lit. f of the EEC Treaty of 1958 had named "the establishment of a system that protects competition within the Community from distortion" as the aim of the European Economic Community . Right from the start, the European Communities' competition concept was based on the market economy teaching of the ordoliberal school, which had also significantly influenced the model of the German social market economy.
Chancellor Angela Merkel said on the occasion of the signing of the Lisbon Treaty: “The basic idea of the social market economy is the basic idea of orderly competition. We have to transfer this idea to the European Union. "
See also
- Study Commission Growth, Prosperity, Quality of Life - Paths to Sustainable Business and Social Progress in the Social Market Economy
- Humane market economy
- Ecological market economy
- Civilized market economy
- Free market economy
literature
Economic theoretical model
- Primary literature
- Günter Brakelmann, Traugott Jähnichen (ed.): The Protestant roots of the social market economy. A source volume . Gütersloh 1994.
- Ludwig Erhard, Wolfram Langer (arr.): Prosperity for all. Anaconda, Cologne 2009, ISBN 978-3-86647-344-7 . ( 8th edition 1964, PDF )
- Alfred Müller-Armack: Social market economy . In: Concise dictionary of the social sciences . tape 9 . Stuttgart et al. 1956, p. 390 ff .
- Alfred Müller-Armack: Economic order and economic policy. Studies and concepts for the social market economy and European integration . Freiburg i. Br. 1966.
- Alfred Müller-Armack: Economic management and market economy. Publishing house economy and finance, Düsseldorf 1999, ISBN 3-87881-135-7 . (Fac. Ed. Of the first edition Hamburg 1947)
- Alfred Müller-Armack: Genealogy of the social market economy: early writings and advanced concepts. 2., ext. Edition. Haupt, Bern 1981, ISBN 3-258-03022-7 .
- Alexander Riistow: Free economy - strong state . In: Germany and the world crisis (writings of the Verein für Socialpolitik 187) . Dresden 1932.
- Alexander Riistow: Economic ethical problems of the social market economy . In: Patrick Boarman (ed.): The Christian and the social market economy . Stuttgart 1955.
- Secondary literature
- Werner Abelshauser : The emperor's new clothes? Changes in the social market economy . Roman Herzog Institute, Munich 2009.
- Gerold Ambrosius : The implementation of the social market economy in West Germany 1945-1949. Deutsche Verlags-Anstalt, Stuttgart 1977, ISBN 3-421-01822-7 .
- Winfried Becker: The decision for a new economic order after 1945. Christian values in the social market economy Ludwig Erhard . In: Rainer A. Roth, Walter Seifert (Ed.): The second German democracy. Origins, problems, perspectives . Cologne / Vienna 1980.
- Dieter Cassel (Ed.): 50 Years of the Social Market Economy. Theoretical principles of order, implementation problems and future prospects of an economic policy concept. Lucius & Lucius, Stuttgart 1998, ISBN 3-8282-0057-5 .
- Alexander Ebner: The intellectual foundations of the social market economy: theory, policy, and implications for European integration. In: Journal of economic studies. 33 (2006) 3, pp. 206-223.
- Uwe Fuhrmann: The emergence of the "social market economy" 1948/49. A historical dispositive analysis. UVK Verlagsgesellschaft, Konstanz and Munich 2017. ISBN 978-3-86764-665-9 .
- Nils Goldschmidt, Michael Wohlgemuth (Hrsg.): The future of the social market economy: socio-ethical and economic principles. Mohr Siebeck, Tübingen 2004, ISBN 3-16-148296-4 .
- Dieter Haselbach : Authoritarian Liberalism and Social Market Economy: Society and Politics in Ordoliberalism. (Habil.) Nomos, Baden-Baden 1991, ISBN 3-7890-2504-6 .
- Michael von Hauff (Ed.): The future viability of the social market economy. Metropolis-Verlag, Marburg 2007, ISBN 978-3-89518-594-6 .
- Volker Hentschel : Ludwig Erhard, the "social market economy" and the economic miracle. Historical lesson or myth? Bouvier Verlag, Bonn 1998, ISBN 978-3-416-02761-8 .
- Philipp Herder-Dorneich: Order theory of the welfare state. Contributions to the theory of order and policy. Mohr Siebeck, Tübingen 1983.
- Karl Hohmann , Horst Friedrich Wünsche (ed.): Basic texts on the social market economy: The social in the social market economy . Lucius & Lucius, 1988, ISBN 3-437-40208-0 .
- Wolfgang Kersting : How fair is the market? Ethical Perspectives of the Social Market Economy . Murmann, Hamburg 2012. ISBN 978-3-86774-183-5 .
- Gerhard Kleinhenz: Welfare state in the conception of the social market economy. In the S. (Ed.): Welfare State Germany . Lucius & Lucius, 1997, p. 390 ff.
- Bernhard Löffler: Social market economy and administrative practice. The Federal Ministry of Economics under Ludwig Erhard . Stuttgart 2002.
- Josef Mooser : Liberalism and society after 1945. Social market economy and neoliberalism using the example of Wilhelm Röpke . In: Manfred Hettling / Bernd Ulrich (ed.): Citizenship after 1945 . Hamburg 2005, p. 134-163 .
- Anthony J. Nicholls: Freedom with Responsibility. The Social Market Economy in Germany, 1918–1963 . Oxford 1994.
- Knut Wolfgang Nörr, Joachim Starbatty, Reinhold Biskup: Should and have: 50 years of a social market economy. Lucius & Lucius, Stuttgart 1999, ISBN 3-8282-0105-9 .
- Jürgen Pätzold: Social market economy: conception - development - future tasks. 6., revised. Edition, Verlag Wiss. and Praxis, Ludwigsburg 1994, ISBN 3-928238-38-8 . Online: Social Market Economy .
- Ralf Ptak: From Ordoliberalism to Social Market Economy: Stations of Neoliberalism in Germany. VS-Verlag für Sozialwiss., Wiesbaden 2005, ISBN 3-8100-4111-4 .
- Friedrun Quaas: Social market economy: reality and alienation of a concept. Bern / Stuttgart 2000, ISBN 3-258-06012-6 .
- Siegfried Rauhut: Social market economy and parliamentary democracy. An institutional economic analysis of the political implementation conditions of the conception of the social market economy. Duncker & Humblot, Berlin 2000.
- Otto Schlecht : Basics and perspectives of the social market economy. Mohr, Tübingen 1990, ISBN 3-16-145684-X .
- Gero Thalemann: The social market economy of the Federal Republic of Germany - a concept that has been realized? Analysis of genesis, theoretical content and practical realization . disserta Verlag, Hamburg 2011.
- Christian Watrin : The Principles of the Social Market Economy — Its Origins and Early History . In: Journal for the entire political science . tape 135 , 1979, pp. 405-425 .
- Hans Willgerodt : Values and theoretical foundations of the concept of the social market economy . In: Wolfram Fischer (Ed.): Currency reform and social market economy. Experience and perspectives after 40 years . Berlin 1989.
- Joachim Zweynert: The social market economy as a political integration formula . 2008, p. 334 , doi : 10.1007 / s10273-008-0800-z .
Economic history
- Werner Abelshauser: German Economic History since 1945 . CH Beck, Munich 2004, ISBN 3-406-51094-9 .
- Michael von Prollius: German economic history after 1945 . UTB, 2006, ISBN 3-8252-2785-5 .
- Mark E. Spicka: Selling the Economic Miracle: Economic Reconstruction and Politics in West Germany, 1949–1957 . Berghahn Books, 2007, ISBN 978-1-84545-223-0 .
- Knut Wolfgang Nörr: The Republic of the Economy: From the social-liberal coalition to reunification . Part 2. Mohr Siebeck, Heidelberg 2007, ISBN 978-3-16-149499-4 .
- Ulrike Herrmann : Germany, an economic fairy tale . Why it's no wonder we got rich Westend Verlag Frankfurt / Main 2019. ISBN 978-3-8648-9263-9 .
Web links
- Definition from Gabler's economic dictionary
- A continuously updated list of literature and events on the subject of the social market economy from the specialist database EconBiz
- Uwe Andersen: Social market economy / economic policy. ( Memento from August 3, 2012 in the web archive archive.today )
- Heinz Grossekettler : Strategies for the implementation and stabilization of an economic order: the example of the social market economy in Germany. In: Economics Faculty of the University of Münster (ed.): Strategies for the implementation and stabilization of an economic order.
- Herbert Hax : Economic policy as regulatory policy - model of the social market economy. ( Memento from January 6, 2013 in the web archive archive.today )
- Michael von Prollius: The neoliberalism of the 30s: root of the social market economy. (PDF; 102 kB)
- Richard Reichel: Social market economy, welfare state and liberal economic order (PDF; 43 kB)
- Karl Georg Zinn : Social market economy. Idea, development and policy of the federal German economic system (PDF; 364 kB)
- Social Market Economy - The Flight Forward. In: Der Spiegel. Vol. 7, No. 37 of September 9, 1953, pp. 11-17.
Individual evidence
- ^ Alfred Müller-Armack: Economic order and economic policy. Bern 1976, p. 245.
- ^ A b Alfred Müller-Armack: Economic order and economic policy. Bern 1976, p. 243.
- ↑ a b c Uwe Andersen, Wichard Woyke (ed.): Concise dictionary of the political system of the Federal Republic of Germany - foundations, conception and implementation of the social market economy . 5th edition. Leske + Budrich, Opladen 2003. Licensed edition Bonn: Federal Agency for Civic Education 2003. ( online ( Memento from August 3, 2012 in the web archive archive.today ))
- ^ Otto Schlecht: Basics and perspectives of the social market economy. Mohr Siebeck, 1990, ISBN 3-16-145684-X , p. 12.
- ↑ It was never a "drawing board construction of resourceful economists", but was based on real economic conditions from the start. (Bernhard Löffler: Social market economy and administrative practice . Steiner, Wiesbaden 2002, p. 85).
- ^ Hanns Abele: Handbook of Austrian Economic Policy. Manz, 1982, ISBN 3-214-07050-9 , p. 145.
- ↑ Julian Dörr, Maximilian Kutzner: "Extra-parliamentary watchdog"? The history of the development of the action group social market economy and its activities to convey the economic order in Germany . In: Quarterly for social and economic history . tape 104 , no. 4/2017 . Franz Steiner Verlag, 2017, ISSN 0340-8728 , p. 487-524 .
- ↑ https://www.avenir-suisse.ch/ludwig_erhard_horst_friedrich_wuensche_die-falsch-verstandene-soziale-marktwirtschaft/ , accessed on June 4, 2020
- ^ Treaty on the creation of a monetary, economic and social union between the Federal Republic of Germany and the German Democratic Republic (State Treaty) of May 18, 1990, Chapter 1, Art. 1 Paragraph 3 ( text of the treaty ).
- ^ Otto Schlecht: Basics and perspectives of the social market economy. Mohr Siebeck 1990, p. 182 ff.
- ↑ a b Angela Merkel: Social market economy as an export hit , Focus , January 30, 2009.
- ↑ "The Union's fundamental goal in future is to promote peace, its values and the well-being of its peoples. These general objectives are complemented by a number of specific objectives: […] 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 environmental protection and improvement of environmental quality “ EU Constitutional Treaty, Art. I-3 ( Memento of the original from March 12, 2015 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Rocco Buttiglione : Some thoughts on the Rhenish model. In: Michael Spangenberger (Hrsg.): Rhenish capitalism and its sources in the Catholic social teaching . Aschendorff, Münster 2011, p. 141.
- ^ Hans-Rudolf Peters: Economic Policy. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 47.
- ↑ Basic texts on the social market economy. Volume 3, Market Economy as a Task. Gustav Fischer Verlag, Stuttgart / New York 1994, ISBN 3-437-40331-1 , p. 36.
- ^ Friedrun Quaas: Social market economy. Haupt Verlag, Bern 2000, p. 44.
- ^ Alfred Müller-Armack: Economic control and market economy. Hamburg 1947, p. 88.
- ^ Alfred Müller-Armack: Social market economy. 1956, p. 390.
- ↑ a b Martin Wengeler: Deep Semantics - Patterns of Argumentation - Social Knowledge: Extension or Turning away from conceptual historical research? In: Ernst Müller: Conceptual history in transition? Volume 2004 from Archive for Conceptual History. Meiner Verlag, 2005, ISBN 3-7873-1693-0 , p. 136.
- ↑ a b c d Karin Böke, Frank Liedtke , Martin Wengeler: Political key words in the Adenauer era. Walter de Gruyter, 1996 ( Language, Politics, Public , Volume 8), ISBN 3-11-014236-8 , p. 396 ff.
- ↑ a b c d Georg Stötzel, Martin Wengeler, Karin Böke: Controversial terms: history of public language use in the Federal Republic of Germany. Walter de Gruyter, 1995 ( Language, Politics, Public. Volume 4), ISBN 3-11-014106-X , keyword “Social Market Economy”.
- ^ Call for elections by the SPD for the 1949 federal election on the Friedrich-Ebert-Stiftung website .
- ↑ Martin Nonhoff: Hegemony Analysis: Theory, Method and Research Practice. In: Reiner Keller (Ed.): Handbook of social science discourse analysis 2: Research practice. Volume 2, 3rd, updated and exp. Edition. VS Verlag, 2008, ISBN 978-3-531-15878-5 , p. 327.
- ↑ In the chapter on Economy , Section 5. Market and State, Co-Determination and Shaping it says: “The social market economy has brought about a high level of material prosperity. Social regulation - above all through the trade unions - ensured that broad sections of the population could share in this prosperity. But the social market economy has prevented neither mass unemployment nor waste of resources; even it has not established social justice. " online ( memento from October 8, 2014 in the web archive archive.today )
- ↑ Martin Nonhoff: Political Discourse and Hegemony: the Project “Social Market Economy”. transcript Verlag, 2006, ISBN 3-89942-424-7 , p. 10.
- ↑ a b Nonhoff, 2006, p. 45 f.
- ↑ Nonhoff, 2006, p. 13.
- ↑ a b c Nonhoff, 2006, p. 46.
- ↑ Rudolf Walther: Excursus: "Economic Liberalism" (Art. "Liberalism"). In: Brunner, Conze, Koselleck: Basic historical concepts. Volume 3, Stuttgart 1982.
- ↑ Nonhoff, 2006, p. 74.
- ↑ Nonhoff, 2006, pp. 45 f., 84.
- ↑ See Hans-Rudolf Peters: Economic Policy. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 47.
- ^ Alfred C. Mierzejewski: 1957: Ludwig Erhard's Annus Terribilis. In: Essays in Economic and Business History. 2004, Volume 22, ISSN 0896-226X , pp. 17-27.
- ^ Martin Greiffenhagen, Sylvia Greiffenhagen (ed.): Concise dictionary on the political culture of the Federal Republic of Germany. 2nd Edition. Westdeutscher Verlag, 2002, p. 553 f.
- ↑ Michael Spangenberger : Prologue. In: Michael Spangenberger (Hrsg.): Rhenish capitalism and its sources in the Catholic social teaching . Aschendorff, Münster 2011, p. VIII.
- ^ Yūichi Shionoya: The German historical school: the historical and ethical approach to economics. Routledge, 2001, p. 199.
- ↑ See Werner Abelshauser: The dynamics of German industry: Germany's path toward the new economy and the American challenge. Volume 6 of Making sense of history. Berghahn Books, 2005, p. 78.
- ^ Gerhard Willke: Capitalism. Campus Verlag, ISBN 978-3-593-38199-2 , p. 172.
- ^ Herbert Giersch: The open society and its economy. Murmann Verlag, Hamburg 2006, p. 63.
- ↑ Manfred G. Schmidt: The political system of Germany: institutions, will formation and policy fields (= Beck'sche series. Volume 1721). CH Beck, Munich 2007, ISBN 978-3-406-54737-9 , p. 367.
- ↑ Cf. but also Thomas Meyer: Theory of Social Democracy. 2006, p. 276.
- ↑ Gero Thalemann: The social market economy of the Federal Republic of Germany - a realized concept? Analysis of genesis, theoretical content and practical realization . disserta Verlag, Hamburg 2011, p. 235.
- ↑ Thomas Hutzschenreuter: General Business Administration: Basics with numerous practical examples. 3. Edition. Gabler, 2009, ISBN 978-3-8349-1593-1 , p. 70.
- ↑ Gero Thalemann: The social market economy of the Federal Republic of Germany - a realized concept ?: Analysis of Genesis, theoretical content and practical realization . Dissertation. 1st edition. 2011, ISBN 978-3-942109-72-7 , p. 40 f.
- ↑ a b Otto Schlecht: Basics and perspectives of the social market economy. Mohr Siebeck, 1990, ISBN 3-16-145684-X , p. 12.
- ^ Hans-Rudolf Peters: Economic Policy. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 164.
- ↑ Hans-Rudolf Peters: Economic Policy, p. 168
- ^ Hans-Rudolf Peters: Economic Policy. 3. Edition. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 170 f.
- ^ Wolfgang Benz: From occupation to the Federal Republic. Stages in the founding of a state 1946-1949 . Frankfurt am Main 1984, p. 125. - Uwe Fuhrmann: The emergence of the “social market economy” 1948/49. A historical dispositive analysis . UVK Verlagsgesellschaft, Konstanz and Munich 2017. - Volker Hentschel: Ludwig Erhard. A politician's life . Ullstein, Berlin 1998, p. 30 f. - Volker Hentschel: Ludwig Erhard, the "social market economy" and the economic miracle. Historical lesson or myth? Bouvier Verlag, Bonn 1998, p. 39 ff. - Joachim Scholtyseck: Ludwig Erhard's social market economy as a radical regulatory innovation and the reality of the Federal Republic's "economic miracle" . In: Werner Plumpe and Joachim Scholtyseck: The state and the order of the economy. From the German Empire to the Berlin Republic. Franz Steiner, Stuttgart 2012, p. 112. - Gero Thalemann (2011): The Social Market Economy of the Federal Republic of Germany - A Concept Realized ? Analysis of genesis, theoretical content and practical realization . disserta Verlag, Hamburg 2011, p. 42. - Karl Günther Weiss : Truth and Reality. The way out of the world wars into the social market economy and a future world order. Homburg / Saar 1990, p. 648.
- ↑ Volker Hentschel: Ludwig Erhard. A politician's life. Ullstein, Berlin 1998, p. 30.
- ↑ Uwe Fuhrmann: The emergence of the "social market economy" 1948/49. A historical dispositive analysis . UVK Verlagsgesellschaft, Konstanz and Munich 2017, p. 261 f.
- ↑ Hermann Terhalle: The Sacred Heart Monastery in Vreden-Ellewick and the Social Market Economy, in: The Social Market Economy - Made in Vreden, Contributions of the Vreden Heimatverein zur Landes- und Volkskunde, Volume 99, Vreden 2019, ISBN 3-926627- 79-4 , p. 56
- ↑ Christoph Butterwege, Bettina Lösch, Ralph Ptak: Neoliberalismus. 1st edition. 2008, ISBN 978-3-531-15186-1 , p. 82 f.
- ^ Otto Schlecht: Basics and perspectives of the social market economy. Mohr Siebeck, 1990, ISBN 3-16-145684-X , p. 13.
- ^ Alfred Müller-Armack: Style and order of the social market economy "(1952). In: Alfred Müller-Armack: Economic order and economic policy. Studies and concepts for the social market economy and for European integration . Rombach. Freiburg iB 1966, p. 242.
- ^ Alfred Müller-Armack: Style and order of the social market economy "(1952). In: Alfred Müller-Armack: Economic order and economic policy. Studies and concepts for the social market economy and European integration . Rombach, Freiburg i. B. 1966, p. 236.
- ^ Alfred Müller-Armack: Social market economy. In: Erwin von Beckerath, Hermann Bente, Carl Brinkmann u. a. (Ed.): Concise dictionary of the social sciences: Simultaneously new edition of the concise dictionary of the political sciences. Fischer, Stuttgart 1956 (Volume 9), p. 390.
- ^ Volkhard Laitenberger, Günter Pursch: Social market economy: balance sheet and perspective. Federal Agency for Political Education, 1989, p. 95.
- ^ Karl Georg Zinn: Social market economy. Idea, development and policy of the federal German economic system , p. 25 (PDF; 364 kB).
- ↑ See Schmid, Buhr, Roth a. Steffen: Economic policy for political scientists. UTB, 2006, pp. 159-162.
- ↑ Quoted from Dieter Cassel, Thomas Apolte (Hrsg.): 50 years of social market economy: order theoretical foundations, problems of realization and future prospects of an economic policy concept. Lucius and Lucius, Stuttgart 1998, ISBN 3-499-17240-2 , p. 105.
- ^ Alfred Müller-Armack: Social market economy. In: Erwin von Beckerath, Hermann Bente, Carl Brinkmann u. a. (Ed.): Concise dictionary of the social sciences. At the same time a new edition of the concise dictionary of political science. Fischer, Stuttgart 1956. (Volume 9).
- ↑ Ingo Pies : Regulatory Policy in Democracy: An Economic Approach to Discursive Policy Advice. Mohr Siebeck, Tübingen 2000, ISBN 3-16-147507-0 , p. 74. See also Hans-Rudolf Peters: Economic Policy. 3rd, completely revised and exp. Edition. Oldenbourg, Munich 2000, ISBN 3-486-25502-9 , p. 165.
- ↑ Heiko Körner: Roots of the social market economy. In: Michael von Hauff (ed.): The future viability of the social market economy. Metropolis-Verlag, Marburg 2007, ISBN 978-3-89518-594-6 , p. 23 f.
- ↑ Quoted from: Horst-Friedrich Wünsche: The Realization of the Social Market Economy after the Second World War and its decline in the sixties and seventies. In: Otto Schlecht, Gerhard Stoltenberg: Social market economy. Basics, lines of development, perspectives . Edited on behalf of the Konrad Adenauer Foundation and the Ludwig Erhard Foundation. Herder, Freiburg 2001, p. 102 f.
- ^ Hans Günter Hockerts: The German welfare state: Development and endangerment since 1945. Vandenhoeck & Ruprecht, 2011, ISBN 978-3-525-37001-8 , p. 143 f.
- ↑ Wilga Föste: Basic values in the regulatory concept of the social market economy. 2006, p. 607.
- ^ Friedrun Quaas: Social market economy. Reality and alienation of a concept . Paul Haupt Publishing House, Bern-Stuttgart-Vienna 2000, p. 252.
- ^ Arnold Berndt; Nils Goldschmidt: Competition as a task. Leonhard Miksch's contribution to order theory and politics . In: ORDO. Yearbook for the Order of Economy and Society, 51, 2000, p. 40.
- ^ Arnold Berndt; Nils Goldschmidt: Competition as a task. Leonhard Miksch's contribution to order theory and politics . In: ORDO. Yearbook for the Order of Economy and Society, 51, 2000; P. 40.
- ↑ Uwe Fuhrmann: The emergence of the "social market economy" 1948/49. A historical dispositive analysis . UVK Verlagsgesellschaft, Konstanz and Munich 2017, p. 145
- ↑ Uwe Fuhrmann: The emergence of the "social market economy" 1948/49. A historical dispositive analysis . UVK Verlagsgesellschaft, Konstanz and Munich 017, p. 263 ff.
- ^ Arnold Berndt; Nils Goldschmidt: Competition as a task. Leonhard Miksch's contribution to order theory and politics . In: ORDO. Yearbook for the Order of Economy and Society, 51, 2000, p. 37.
- ↑ Gerold Ambrosius: The implementation of the social market economy in West Germany 1945-1949 . Deutsche Verlags-Anstalt, Stuttgart 1977, p. 172
- ↑ Gerold Ambrosius: The implementation of the social market economy in West Germany 1945-1949 . Deutsche Verlags-Anstalt, Stuttgart 1977, p. 173.
- ↑ Gerold Ambrosius: The implementation of the social market economy in West Germany 1945-1949 . Deutsche Verlags-Anstalt, Stuttgart 1977, p. 173.
- ^ Alfred C. Mierzejewski: Ludwig Erhard: the trailblazer of the social market economy. Siedler, Munich 2005, ISBN 3-88680-823-8 , p. 59.
- ↑ For example, Erhard writes that a cartel law based on prohibition is the indispensable “economic constitution”. If the state fails in this field, then the social market economy will soon be over. This principle compels us not to give any citizen the power to suppress individual freedom or to restrict it in the name of a misunderstood freedom. Compare: Ludwig Erhard, Wolfram Langer (arr.): Prosperity for all. Econ, Düsseldorf 1957, p. 9.
- ↑ Gero Thalemann: The social market economy of the Federal Republic of Germany - a realized concept ?: Analysis of Genesis, theoretical content and practical realization. Dissertation. 2011, ISBN 978-3-942109-72-7 , p. 53.
- ^ Richard Reichel: Social market economy, welfare state and liberal economic order. In: Society for Critical Philosophy Nuremberg (ed.): Journal for free thinking and humanistic philosophy. Special issue 2 (1988) pp. 83-92. Online: Social market economy, welfare state and liberal economic order (PDF; 43 kB), p. 7.
- ↑ Gerd Habermann : Do utopias have to be socialist? In: ORDO, Yearbook for the Order of Economy and Society. Lucius & Lucius, Stuttgart 2004, Volume 55, ISBN 3-8282-0275-6 , p. 114.
- ^ Hans-Rudolf Peters: Economic Policy. 3. Edition. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 169 f.
- ^ Hans-Rudolf Peters: Economic Policy. 3rd, completely revised and expanded edition. Oldenbourg, Munich 2000, ISBN 3-486-25502-9 , p. 171.
- ↑ Gero Thalemann: The social market economy of the Federal Republic of Germany - a realized concept ?: Analysis of Genesis, theoretical content and practical realization. Dissertation. 2011, ISBN 978-3-942109-72-7 , p. 47.
- ^ Hans-Rudolf Peters: Economic Policy. 3. Edition. Oldenbourg Wissenschaftsverlag, 2000, ISBN 3-486-25502-9 , p. 169.
- ↑ a b Gerhard Kutzenberger: Codetermination of the shareholders. Duncker & Humblot, 1964, p. 46.
- ^ A b c Lutz Leisering: The German post-war social state - development and crisis of a centrist social model. In: Hans-Peter Schwarz (Ed.): The Federal Republic of Germany: a balance sheet after 60 years. Böhlau, Cologne / Weimar 2008, ISBN 978-3-412-20237-8 , p. 425.
- ↑ Ludwig Erhard, Wolfram Langer (arr.): Prosperity for all. Econ, Düsseldorf 1957, p. 15.
- ^ Jürgen Pätzold: Social market economy: conception - development - future tasks. 6., revised. Edition, Verlag Wiss. and Praxis, Ludwigsburg 1994, ISBN 3-928238-38-8 . Retrieved April 19, 2009.
- ^ In: Allgemeine Kölnische Rundschau. December 27-28. Quoted from: Georg Stötzel, Martin Wengeler: Controversial terms: History of public language use in the Federal Republic of Germany. de Gruyter, Berlin 1995, ISBN 3-11-014106-X , p. 57.
- ↑ Quoted from: Gabriele Müller-List (arrangement): Montanmitbestimmen. The law on employee participation in the supervisory and executive boards of mining and iron and steel-producing companies of May 21, 1951 . Droste, Düsseldorf 1984, p. 9.
- ^ Kurt H. Biedenkopf : Ludwig Erhard's struggle for a general political order. In: Karl Hohmann: Basic texts on the social market economy. Volume 2: The social in the social market economy. 1st edition. Gustav Fischer, 1988, ISBN 3-437-40208-0 , p. 460.
- ^ Richard Reichel: Social market economy, welfare state and liberal economic order. In: Society for Critical Philosophy Nuremberg (ed.): Journal for free thinking and humanistic philosophy. Special issue 2 (1988) pp. 83-92 ( PDF , p. 9), accessed on April 19, 2009.
- ↑ What is meant here is neoliberalism in its historical meaning. Currently, neoliberalism is often identified with market liberalization and in this sense can no longer be understood as the basis of the social market economy (see Andreas Renner: The two “neoliberalisms”. In: Issues of Freedom, Issue 256, Oct./Dec. 2000).
-
↑ Uwe Andersen, Wichard Woyke (Hrsg.): Concise dictionary of the political system of the Federal Republic of Germany - foundations, conception and implementation of the social market economy . 5th edition. Leske + Budrich, Opladen 2003. Licensed edition Bonn: Federal Center for Political Education 2003. ( online ( Memento from August 3, 2012 in the web archive archive.today ))
Cf. also Otto Schlecht: Fundamentals and perspectives of the social market economy. JCB Mohr, Tübingen 1990, ISBN 3-16-145690-4 , pp. 9-12; Christian Watrin : The Principles of the Social Market Economy - Its Origins and Early History. In: Journal for the entire political science . Volume 135, 1979, pp. 405-425; Lothar Wildmann: Introduction to Economics, Microeconomics and Competition Policy. Oldenbourg Wissenschaftsverlag, 2007, ISBN 978-3-486-58195-9 , p. 94. - ↑ Martin Nonhoff: Political Discourse and Hegemony: The Project “Social Market Economy”. 2006, p. 13.
- ↑ Cf. also Philip Manow : Ordoliberalism as economic order theology. In: Leviathan . Volume 29, No. 2, 2001, pp. 179-198, doi: 10.1007 / s11578-001-0012-z .
- ↑ Traugott Jähnichen, Hella Blum: Closely connected: Social Protestantism and social market economy. In: evangelisch.de, January 25, 2011. online ( Memento from February 17, 2013 in the web archive archive.today )
- ^ Volkhard Laitenberger: Ludwig Erhard - Personality and History. Muster-Schmidt-Verlag, 1986, ISBN 3-7881-0126-1 , p. 16 ff.
- ^ Werner Kruck: Franz Oppenheimer - thought leader of the social market economy and self-help society. Arno Spitz Verlag, Berlin 1997, ISBN 3-87061-656-3 , p. 183.
- ↑ See also Gabler Verlag (ed.): Gabler Wirtschaftslexikon. Keyword: "Social Market Economy" (online)
- ^ Critical Volker Hentschel: Ludwig Erhard. Olzog, 1996, ISBN 3-7892-9337-7 , p. 17.
- ↑ See also the comparison with Werner Abelshauser: Freedom Socialism or Social Market Economy: The expert conference on basic questions of economic planning and economic control on June 21 and 22, 1946. In: Quarterly books for contemporary history . 24. Vol., H. 4 (October 1976), pp. 415–449 (PDF)
- ↑ Lüder Gerken (Ed.): Walter Eucken and his work: Review of the pioneer of the social market economy. Mohr Siebeck, Tübingen 2000, ISBN 3-16-147503-8 .
- ^ Nils Goldschmidt: Social market economy: What Erhard really wanted. In: fr-online.de (ed.): What Erhard really wanted. ( Memento from February 17, 2009 in the Internet Archive )
- ^ Otto Schlecht: Basics and perspectives of the social market economy. JCB Mohr, Tübingen 1990, ISBN 3-16-145690-4 , p. 9.
- ↑ Walter Eucken: The foundations of national economy. 9th, unchanged edition. Springer-Verlag, ISBN 3-540-51292-6 , pp. 239-240.
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- ^ Hans-Rudolf Peters: Economic Policy. 3rd, completely revised and exp. Edition. Oldenbourg, Munich 2000, ISBN 3-486-25502-9 , p. 151 f.
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- ↑ Werner Lachmann: Economics 2: Applications. Springer-Verlag, Berlin / Heidelberg 1995, p. 45.
- ↑ “It is overlooked again and again that Eucken devotes a great deal of space to social questions, and even more: that these are even for him a knowledge-guiding principle. In the introduction to the “Principles of Economic Policy” he stated that “Social security and social justice ... are the great concerns of the time” (1952/1990, 1). Since the beginning of industrialization, the social question has increasingly become the central question of human existence [...] Above all, thinking and acting must be directed towards its solution ”(ibid.) Lüder Gerken: Walter Eucken and his work: Review of the pioneer of social Market economy . Mohr Siebeck, 2000, ISBN 978-3-16-147503-0 , p. 21 .
- ^ Ingo Pies: Regulatory Policy in Democracy. An economomic approach more discursive. Mohr Siebeck, Tübingen 2000, p. 35.
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- ^ Lüder Gerken, Andreas Renner: The regulatory conception of Walter Euckens. In: Lüder Gerken (Ed.): Walter Eucken and his work: Review of the pioneer of the social market economy. Mohr Siebeck, Tübingen 2000, ISBN 3-16-147503-8 , pp. 22, 23.
- ^ Lüder Gerken, Andreas Renner: The regulatory conception of Walter Euckens. In: Lüder Gerken (Ed.): Walter Eucken and his work: Review of the pioneer of the social market economy. Mohr Siebeck, Tübingen 2000, ISBN 3-16-147503-8 , p. 23.
- ^ Lüder Gerken, Andreas Renner: The regulatory conception of Walter Euckens. In: Lüder Gerken (Ed.): Walter Eucken and his work: Review of the pioneer of the social market economy. Mohr Siebeck, Tübingen 2000, ISBN 3-16-147503-8 , p. 20 f.
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- ↑ Hans-Günther Krüsselberg: human resources in the social market economy. In: Werner Klein, Spiridon Paraskewopoulos, Helmut Winter: Social market economy. A model for Europe. 1st edition. Duncker & Humblot, 1994, ISBN 3-428-08236-2 , p. 39.
- ^ Peter Ulrich: Market economy as a legal context. The perspective of integrative business ethics. In: ARSP: Business Ethics and Law. Franz Steiner Verlag, Stuttgart 2001, ISBN 3-515-07899-1 , pp. 32, 33.
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- ^ Bernhard Löffler: Social market economy and administrative practice. Franz Steiner Verlag, 2002, ISBN 3-515-07940-8 , p. 80.
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- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 526 f.
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- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 126.
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- ^ Peter Temin: The Golden Age of European growth reconsidered . In: European Review of Economic History . tape 6 , no. 1 , April 2002, p. 3-22 , JSTOR : 41377908 .
- ↑ Ludger Lindlar: The misunderstood economic miracle. 1st edition. Mohr Siebeck, 1997, ISBN 3-16-146693-4 , p. 95.
- ↑ Alexander Nützenadel : Hour of the Economists. Vandenhoeck & Ruprecht, 2011, ISBN 978-3-525-35149-9 , pp. 244, 245.
- ^ Bernhard Löffler: Social market economy and administrative practice. 1st edition. 2003, ISBN 3-515-07940-8 , p. 586.
- ↑ a b Alexander Nützenadel: Hour of Economists. Vandenhoeck & Ruprecht, 2011, ISBN 978-3-525-35149-9 , p. 295.
- ^ Werner Abelshauser: German economic history since 1945. Munich 2011, p. 371.
- ↑ Alexander Nützenadel: Hour of the Economists. Vandenhoeck & Ruprecht, 2011, ISBN 978-3-525-35149-9 , p. 299.
- ^ Jürgen Pätzold: Social market economy: conception - development - future tasks. 6., revised. Edition, Verlag Wiss. and Praxis, Ludwigsburg 1994, ISBN 3-928238-38-8 . Online: Ordoliberal School .
- ↑ Otto Schlecht: Mission statement or alibi? On the role of the conception of the social market economy in practical economic policy. In: Dieter Cassel (Ed.): 50 Years of the Social Market Economy. Theoretical principles of order, implementation problems and future prospects of an economic policy concept. Lucius & Lucius, Stuttgart 1998, ISBN 3-8282-0057-5 , p. 41.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, pp. 372, 394.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, pp. 372, 383.
- ^ Rüdiger Soltwedel: The labor market constitution. In: Karl Hohmann: Basic texts on the social market economy. Volume 2 - The social in the social market economy. 1st edition. 1988, ISBN 3-437-40208-0 , p. 244.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, pp. 386–388.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 490.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 498.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 501 f.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, pp. 501–503.
- ^ Treaty on the creation of a monetary, economic and social union between the Federal Republic of Germany and the German Democratic Republic (State Treaty) of May 18, 1990, Chapter 1, Article 1, Paragraph 3 ( text of the treaty ).
- ^ Otto Schlecht: Basics and perspectives of the social market economy. Mohr Siebeck 1990, p. 182 ff.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. 2011, ISBN 978-3-406-51094-6 , pp. 445-449.
- ^ A b Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 503.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 506.
- ↑ Conversion of the “Model Germany” to a “Shareholder Society”. The "Deutschland AG" in the process of globalization / internationalization ( Memento of the original from June 28, 2011 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , Gerhard Himmelmann, February 7, 2007 (PDF).
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 513.
- ↑ Karl-Heinz Paqué: Has German unity changed the social market economy? In: Werner Plumpe / Joachim Scholtyseck (ed.): The state and the order of the economy. From the German Empire to the Berlin Republic . Steiner, Stuttgart 2012, p. 203.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, pp. 503–504.
- ^ Werner Abelshauser: German economic history. From 1945 to the present. Munich 2011, p. 528.
- ↑ See Andreas Maurer. The ratification process for the EU Constitutional Treaty , SWP -Diskussionspapier, 2006, p.29.
- ↑ Wolfgang Wurmnest: Market power and repression abuse: A comparative law redefinition of the relationship between law and economics in the abuse control over dominant companies. Mohr Siebeck, 2010, ISBN 978-3-16-150513-3 , p. 96.
- ↑ See Jürgen Beninca: Antitrust law in practice: a guide. Verlag Hüthig Jehle Rehm, 2007, ISBN 978-3-8114-3727-2 , p. 5.
- ↑ Speech in the Bundestag on April 24, 2008
