СОЦИЈАЛНАТА ПАЗАРНА ЕКОНОМИЈА НАСПРОТИ СЛОБОДНАТА ПАЗАРНА ЕКОНОМИЈА: ИДЕОЛОШКИ ОСНОВИ, ИНСТИТУЦИОНАЛНИ ПРАКТИКИ И СОВРЕМЕНИ ИМПЛИКАЦИИ
THE SOCIAL MARKET ECONOMY VERSUS THE FREE MARKET ECONOMY: IDEOLOGICAL FOUNDATIONS, INSTITUTIONAL FRAMEWORKS, AND CONTEMPORARY POLICY IMPLICATIONS

Summary/Abstract: This research paper analyzes the conceptual and practical contrast between the social market economy and the free market economy, focusing on the role of the state, social policy, and the response to economic inequality. Through a comparative analysis of economic models in various countries, it identifies the advantages and challenges of each approach.The paper examines the distinction between two of the most influential economic paradigms of the modern era: the social market economy and the free market economy. While the former represents a compromise between economic efficiency and social justice, the latter is grounded in the principles of free competition and minimal state intervention. A historical overview, theoretical analysis, and country-based comparative studies are used to highlight essential differences in the role of the state, levels of social protection, and mechanisms of public responsibility. In conclusion, the study calls for a critical reevaluation of economic policy in transitional countries such as North Macedonia. It advocates for a pragmatic hybrid approach that selectively integrates best practices from both economic models. The goal is to foster inclusive growth, improve institutional accountability, and support long-term social stability.

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