section_path: Types/Social
section_name: Social
paragraph_text: Social
  
  A social market economy is a free-market or mixed-market capitalist system, sometimes classified as a coordinated market economy, where government intervention in price formation is kept to a minimum, but the state provides significant services in areas such as social security, health care, unemployment benefits and the recognition of labor rights through national collective bargaining arrangements.
  
  This model is prominent in Western and Northern European countries as well as Japan, albeit in slightly different configurations. The vast majority of enterprises are privately owned in this economic model.
  
  Rhine capitalism is the contemporary model of capitalism and adaptation of the social market model that exists in continental Western Europe today.