Germany has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Germany is a member of the European Union (EU).

What do the economic systems of the United Kingdom, Germany, and Russia have in common? A. All are examples of pure market economies. All are examples of mixed economies that are mostly market economies with some elements of command economies.

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.

Countries with a social market economy include Austria, the Czech Republic, Germany, Peru, and the United Kingdom.

The social market economy model endures because it supports consumer interests before those of producers, just as it positions citizens, rather than the state, as the true sovereigns. This approach has proven to offer the most reliable foundation for a successful economy.

And less than ten years after the war people already were talking about the German economic miracle. What caused the so-called miracle? The two main factors were currency reform and the elimination of price controls, both of which happened over a period of weeks in 1948.

In 2015 real GDP per capita was $56,000 in the United States. The real GDP per capita in that same year was only $47,000 in Germany, $41,000 in France and the United Kingdom, and just $36,000 in Italy, adjusting for purchasing power. In short, the U.S. remains richer than its peers.

Both countries established diplomatic relations after the unification of Italy. Relations between Italy and Spain have remained strong and affable for centuries owing to various political, cultural, and historical connections between the two nations.