Program "Sustainable Social Market Economies"

Sustainable Social Market Economies

Combining economic performance and social participation – that is the guiding principle behind the German “social market economy” model and the recipe for its success. Yet this economic and social concept is facing increasing pressure due to climate change, limited natural resources, a shrinking workforce, globalization and digital transformation. To ensure it remains a reliable model for future generations, we need to transform our economy into a “sustainable social market economy”. This implies not only striking a balance between growth and social participation, but also promoting sustainability as a global responsibility. To make sure this transformation succeeds, new approaches to strengthening competitiveness and a thriving economy are needed. This requires fostering innovation and an adequately skilled workforce. And if people are to endorse and engage in shaping this change, we have to provide the conditions that allow for improved participation and advancement in the labor market.