Social market economy in the context of "Economy of Austria"

European Union law is a system of supranational laws operating within the 27 member states of the European Union (EU). Originally referred to as Community law, it has grown over time since the 1952 founding of the European Coal and Steel Community, to promote peace, social justice, a social market economy with full employment, and environmental protection. The Treaties of the European Union agreed to by member states form its constitutional structure. EU law is interpreted by, and EU case law is created by, the judicial branch, known collectively as the Court of Justice of the European Union.

Legal Acts of the EU are created by a variety of EU legislative procedures involving the popularly elected European Parliament, the Council of the European Union (which represents member governments), the European Commission (a cabinet which is elected jointly by the Council and Parliament) and sometimes the European Council (composed of heads of state). Only the Commission has the right to propose legislation.

The economy of Ukraine is a developing social market economy. It possesses many of the components of a major European economy, such as rich farmlands, a well-developed industrial base, highly-trained labour, and a good education system. Ukraine has large mineral deposits across its landmass.

The depression during the 1990s included hyperinflation and a fall in economic output to less than half of the GDP of the preceding Ukrainian SSR. GDP growth was recorded for the first time in 2000, and continued for eight years. This growth was halted by the 2008 financial crisis. It grew rapidly from 2000 until the 2008–2009 Ukrainian financial crisis. The economy recovered in 2010 and continued improving until 2013. The Euromaidan in Ukraine caused a severe economic decline from 2014 to 2015, with the country's gross domestic product in 2015 surpassing half of what it was in 2013. In 2016, the economy again started to grow. By 2018, the Ukrainian economy was growing rapidly, and reached almost 80% of its size in 2008.

The European People's Party Group (EPP Group or simply EPP) is a political group of the European Parliament consisting of deputies (MEPs) from the member parties of the European People's Party (EPP). Sometimes it also includes independent MEPs and/or deputies from unaffiliated national parties. The EPP Group comprises politicians of Christian democratic, conservative and liberal-conservative orientation.

The 2024 EPP manifesto reflects these views. The opening paragraph for instance reflects conservatism used to distinguish Europeans as a people "defined by shared history, heritage, Judea-Christian roots, and diversity." The manifesto refers to the history of christian democracy and the invention of the social market economy, as evidence of their commitment to Christian ethics & social teaching. Also linked is an article dedicated to the EPP view on social market economies, where they state "We believe our Christian democratic values are the strongest starting point for designing the future because they combine the best from conservative, liberal, and Christian-social ways of thinking."

Ordoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential.

Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder. The term "ordoliberalism" (German: Ordoliberalismus) was coined in 1950 by Hero Moeller [de] and refers to the academic journal ORDO.

The Freiburg school (German: Freiburger Schule) is a school of economic thought founded in the 1930s at the University of Freiburg.

It builds somewhat on the earlier historical school of economics but stresses that only some forms of competition are good, while others may require oversight. This is considered a lawful and legitimate role of government in a democracy in the Freiburg school. The Freiburg school provided the economic theoretical elements of ordoliberalism and the social market economy in post-war Germany.

Welfare capitalism is capitalism that includes social welfare policies and/or the practice of businesses providing welfare services to their employees. Welfare capitalism in this second sense, or industrial paternalism, was centered on industries that employed skilled labor and peaked in the mid-20th century.

Today, welfare capitalism is most often associated with the models of capitalism found in Central Mainland and Northern Europe, such as the Nordic model and social market economy (also known as Rhine capitalism and social capitalism). In some cases welfare capitalism exists within a mixed economy, but welfare states can and do exist independently of policies common to mixed economies such as state interventionism and extensive regulation.

Centre-right politics is the set of right-wing political ideologies that lean closer to the political centre. It is commonly associated with conservatism, Christian democracy, liberal conservatism, and conservative liberalism. Conservative and liberal centre-right political parties have historically performed better in elections in the Anglosphere than other centre-right parties, while Christian democracy has been the primary centre-right ideology in Europe.

The centre-right commonly supports ideas such as small government, law and order, freedom of religion, and strong national security. It has historically stood in opposition to radical politics, redistributive policies, multiculturalism, illegal immigration, and LGBT acceptance. Economically, the centre-right supports free markets and the social market economy, with market liberalism and neoliberalism being common centre-right economic positions. It typically seeks to preserve the cultural and socioeconomic status quo and believes that changes should be implemented gradually.