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The SPD's Hamburg Programme, adopted in 2007, describes democratic socialism as "the vision of a free and fair society in solidarity", which requires "a structure in economy, state and society guaranteeing civil, political, social and economic basic rights for all people living a life without exploitation, suppression and violence, hence in ...
The SPD decided to tolerate Brüning's government and not repeal his decrees in an effort to avoid further instability and Nazi gains. As the Brüning government implemented austerity to counter the depression, the SPD debated its own economic program. The proto-Keynesian WTB plan was supported by the unions but rejected by the party.
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
It declared that the SPD "no longer considered nationalization the major principle of a socialist economy but only one of several (and then only the last) means of controlling economic concentration of power of key industries" while also committing the SPD to an economic stance which promotes "as much competition as possible, as much planning ...
The Third Way, also known as Modernised Social Democracy, [1][page needed] is a predominantly centrist political position that attempts to reconcile centre-right and centre-left politics by synthesising a combination of economically liberal and social democratic economic policies along with centre-left social policies. [2][3] It is a ...
In common usage, "significant" usually means "noteworthy" or "of substantial importance". In econometrics —the use of statistical techniques in economics—"significant" means "unlikely to have occurred by chance". For example, suppose one wishes to find if the minimum wage rate affects firms' decisions on how much labor to hire.
Supply-side economics is a macroeconomic theory postulating that economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. [1][2] According to supply-side economics theory, consumers will benefit from greater supply of goods and services at lower prices, and employment will increase. [3]
Characteristics. A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). "Production under socialism would be directly and solely for use.