The correct to own property, liberty of movement, selection of profession, liberty of association, and inclusivity even before the law are all guaranteed by the German constitution, known as the Basic Law (Grundgesetz). However, the constitution's "social market economy" modified how the free market operated without restraint (Soziale Marktwirtschaft). Germany has an economic structure that is backed by the majority of employees and businesses thanks to a "safety net" of benefits, such as preventive care, joblessness and impairment recompense, prenatal and baby care provisions, retraining programs, pensions, and many others, that are compensated for by donations from individual people, employers, and public funds.
The legislature attempts to promote fairness and equality between management and workers in the social marketplace economy by establishing minimum requirements for employee salaries, rewards, working time, and circumstances as well as by regulating the interactions of the capitalist market participants, especially when it comes to competing and monopolies. There are now workplace councils, and employees are represented on corporate boards. Policymakers who had a fresh memory of the market imperfections and social unrest brought on by the massive industrial trusts prior to 1939 were the ones who developed the social market economy. The introduction of anti-monopoly legislation in 1958 has been criticized for being ineffective.
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