Social Capitalism, shortened to SocCap also known as Rhine Capitalism, Welfare Capitalism and Social market economy, is an economically centre-left to centre-right (depending on the amount of regulations and welfare) 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 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, it is 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 Adenauer's Minister of Economic Affairs 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, unemployment benefits, and in some cases, universal basic income.
Personality
W.I.P
How To Draw
- Draw a ball and fill it with yellow.
- Draw a green rose in the center
- Add eyes
- Done! :)
| Color Name | HEX | RGB | |
|---|---|---|---|
| Yellow | #FFF301 | 255, 243, 1 | |
| Green | #008000 | 0, 128, 0 | |
Relationships
Friends
Capitalism - Dad! You have great ideas, but please have some decency, will you?
Social Democracy - Some of your proponents support me!
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.
Third Way - SocDem, but more private.
Bismarckism - The closest thing to a predecessor.
Frenemies
Austrolibertarianism - Central banks are good, you dummkopf! at least we are both capitalists.
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)
Gallery
-
Credit to u/steamed_hamsters
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