Social Capitalism

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Social Capitalism
Basic Information
Aliases	Rhine Capitalism (Rheinischer Kapitalismus) Social Market Economy Coordinated Market economy Welfare Capitalism German Model
Alignments	Center Capitalists Welfarists
Ideological Influences
Influenced by	Capitalism Social Democracy Welfarism Social Liberalism Bismarckism
Influenced	Ordo-Liberalism Nordic Model Welfare Chauvinism Christian Democracy Paternalistic Conservatism Neoliberalism
Ideological Information
Notable Theorists	Alfred Müller-Armack Ludwig Erhard Konrad Adenauer Keith Joseph
Character Information
Likes	Welfare, fair competition
Dislikes	Communism

Social Capitalism, shortened to SocCap also known as Rhine Capitalism, Welfare Capitalism and Social market economy, is an economically-centrist ideology which combines stances from both Social Democracy and Capitalism.

History

One of the major factors for the emergence of SocCap in Germany was to improve the conditions of workers under capitalism in order to to prevent the rising threat of Marx's socialist movement. Germany implemented the world's first welfare state and universal healthcare program in the 1880s. Chancellor Otto von Bismarck developed a program in which industry and state work closely to stimulate economic growth by giving workers greater security.

Alfred Müller-Armack coined the term "Social market economy (Soziale Marktwirtschaft)" in 1946. SME can be seen as an evolution of ordoliberal thought.

Following the end of WW2, chancellor Konrad Adenauer implemented the social market economy model in Allied-occupied Germany. Ludwig Erhard was the Minister of Economic Affairs under Adenauer and is primarily responsible for the Wirtschaftswunder.

Beliefs and Views

SocCap believes in a free market alongside economic intervention in order to ensure fair competition, with additional support for a moderate welfare state. It is most commonly manifested in a privatized market economy used as an allocation mechanism, and that output can be increased through moderate economic interventionism on behalf of the state. It thinks this pairing can work and may even be complimentary, as he thinks this would decrease poverty and still allow economic freedom. His main tenets are private property, free trade, unregulated prices, accompanied with welfare measures such as pensions, health care, and unemployment benefits.

Personality

W.I.P

How To Draw

Flag of Social Capitalism

1. Draw a yellow circle
2. Draw a green SocDem rose in the center
3. Add eyes
4. Done! :)

Relationships

Friends

• Capitalism - You have great ideas, dad! But please have some decency, will you?
• Social Democracy - You do too, but those regulations are killing us!
• Paternalistic Conservatism - Similar to SocDem, but conservative.
• Ordo-Liberalism - You did it well in Germany, son.
• Eco-Capitalism- I like your ideas and intention to protect us from pollution and contamination.
• Social Liberalism - They're similar to Ordolib, but more progressive.
• Nordic Model - Very good socio-economic model.
• Christian Democracy - The economic miracle wouln't have been possible without you.

Frenemies

• Austrolibertarianism - Central banks are good, you dingus!

Enemies

• National Socialism - You ruined Germany and rejected Muller-Armack's ideas!

Further Information

• Social market economy
• Freiburg Circles
• Alfred Müller-Armack
• Konrad Adenauer
• Ludwig Erhard
• Wirtschaftswunder
• Social Market Foundation (UK Think tank)

Literature

• wirtschaftslenkung und marktwirtschaft by Alfred Müller-Armack
• Origins of the social market economy
• Varieties of Capitalism

Videos

• The Economy of Germany by Economics Explained