Soziale Marktwirtschaft

Soziale Marktwirtschaft (German), literally, social management of the market economy, is the system of economic management adopted by the German Government after World War II. By and large this system embraced the interventionist policies of the United States. In some cases, Germany adopted American methods (e.g. antitrust policies); in other cases, Germany espoused more radical policies (e.g. granting labor unions the right of co-determination in certain key industries); while, in still other cases, Germany remained more "orthodox" (e.g. preferring relatively sound money policies as against inflationism).