- The term "social market economy" was coined by German economist Alfred Mueller-Armack, who defined it as combining market freedom with social equity and regulation. This model made West Germany economically dominant in the EU.
- German Chancellor Ludwig Erhard's concept was based on Bismarck's social welfare legacy and US New Deal policies. It proved effective due to access to US markets under the Marshall Plan during the Cold War, fueling West Germany's postwar economic miracle.
- Nazi Germany also achieved economic recovery and full employment in the 1930s through sovereign credit and public works programs, independent of foreign capital. However, their aims differed from the later West German model in being based on economic nationalism rather than integration into
- The term "social market economy" was coined by German economist Alfred Mueller-Armack, who defined it as combining market freedom with social equity and regulation. This model made West Ge…