Definition of social market economy in English:

social market economy

Syllabification: so·cial mar·ket e·con·o·my
(also social market)

noun

  • An economic system based on a free market operated in conjunction with state provision for those unable to sell their labor, such as people who are elderly or unemployed.
    More example sentences
    • They often object to the community ethic that underpins the social market economy, preferring a more individualistic approach to society.
    • And in Germany we have a certain culture, a social market economy.
    • The social market economy, which we embrace, is based on these principles.

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