DEVELOPMENT OF THE CONCEPT OF SOCIAL MARKET ECONOMY IN CATHOLIC SOCIAL DOCTRINE

The third way concept managed to combine strong points of economic liberalism and socialistic doctrines. It was a result of fruitful joint efforts of CST and developers and predecessors of SME concept. And while the economic part of CST has a nature of universal normative doctrine, the SME concept is a concept of German economic system, brilliantly implemented in the economic policy of the government of this country in 1947 - 1967. Basic ideas of the SME concept are still forming the core of CDU (one of the most influential political powers in Germany) economic program, and in many ways outlining the building of the European Union. In general, the idea of the third way became one of the most significant achievements of socioeconomic thought of the 20th century.