GSEM hosts lecture of Prof.Dr. Michael Wohlgemuth on Social Market Economy

12:08, April 8, 2019

Students and faculty staff members of GSEM took part in the lecture on April, 2, 2019

The German economic model also known as Social Market Economy represents a third path between the Planned Economy and Laissez-Faire Capitalism. The lecture introduced the participants to this concept, which has evolved and still enjoys success in Germany. The following issues were addressed:

• How did this economic model come about?
• How has it changed and developed over time?
• What are its fundamental differences compared to a Market Economy?

Prof. Dr. Michael Wohlgemuth:

• Scientific Director of the Foundation for Regulatory Policy and Constitutional Law (Germany);
• Director of a policy think tank “Open Europe Berlin”;
• Professor of Political Economy at the Witten/Herdecke private University (Germany).

The main areas of research: new institutional economics, economic theories of politics (the public choice theory), theory of economic systems, evolutionary economics, socio-legal philosophy and the history of ideas.

Students of the BA programme International Economics and Business, who actively participated in the event, were given the gifts — books in the field of Social Market Economy. We are gratefull to the co-organizer of the event — Konrad Adenauer Foundation.