Study Cards on social, capitalism, foreign
Its central theme is the idea of a social market: an attempt to marry the disciplines of market competition with the need for social cohesion and solidarity.
- High levels of social expenditure required to maintain a high-quality welfare provision. --> pushes up taxes.
- Critics say its nothing more than a contradiction in terms. The price of financing ever-expanding social programmes is a decline in international competitiveness and a weakening of the wealth-creating bases of the economy.
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