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Social market economy : an inquiry into the theoretical bases of German model of capitalism

Özbideciler, Umut Devrim
In this study, the concept of ءSocial Market Economy̕ which was the leading idea in the post-Second World War economic order of Germany will be analysed. This analysis will also take into consideration the Economic School of Ordoliberalism which emerged in the inter-war period and greatly influenced the construction of the idea of ءSocial Market Economy̕ with its theoretical principles. Some politicians and theoreticians in the post-war period also contributed to the development of the concept. Within this theoretical framework, the post-war economic policies and developments will be surveyed and the newly established economic order will be compared with the ideals of Social Market Economy theoretical programme. In particular, the impact of the Social Market Economy upon the evolution of German Model of Capitalism will be explored by taking into account the significant changes in the role of the state in the economy and the conduct of relations between the social partners especially since the 1960̕s.