“Socially‐oriented” socioeconomic policies for the USA and Germany have both “meaning” and “validity” in that they would address themselves to socioeconomic concerns and could be implemented. Narrowly oriented socioeconomic policies are neither politically nor socially acceptable in the long run. In a mature socioeconomic system, such as the USA or Germany, the focal question centres not only on efficiency and productivity but also on human values, especially the rights for freedom, for a productive and creative life, and for a life in dignity. The basic question each country faces is what kind of socioeconomic policies it should actively pursue in order to strengthen the market system and to maximize social welfare as effectively as possible.
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