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Sols, José

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La Vanguardia - Spain | 10/11/2008

Albert Florensa and José Sols on a global social market economy

In the face of a possible reform of the global economy Albert Florensa and José Sols make the case in the Spanish daily La Vanguardia for an international social market economy modelled on Germany's system. "To balance out the disadvantages of the two systems, after World War II (taking the cue from the US's New Deal initiative) the social market economy was created in Germany, which gave Western society one of the best chapters in its social and economic history in terms of both rights and growth. ... Let us revive the social market economy by adjusting it to the global reality, which means erecting an international, political and democratic structure which represents mankind as a whole and which, while respecting individual states, creates the kind of global regulations that those [states] cannot violate. The social market economy is based on two principles: first, that of individual freedom as the basis for subsidiarity, and secondly, social consciousness as the foundation of solidarity. It relies on the free market but also on the state assuming a certain role in the economy, always at the service of those who make up society. Overcoming this crisis will be difficult. In striving to do this we must start to create a foundation for preventing future crises. The social market economy is the path we must follow - but at a global level."

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