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In the paper the models of socially-oriented economies are characterized. It is revealed the concept of social market economy and social functions of the state. The composition of social policy is determined. It is characterized such models of socially-oriented economies as continental, Anglo-Saxon, Scandinavian, Southern European, neoliberal and paternalistic. It is proved that the most successful version of the welfare state is a Scandinavian welfare model. It is conducted the comparison of the social economy models. It is defined the criteria by which models of the social market economy differ. It is proved that under current economic conditions a new paradigm of social policy that combines three forces: state, market and civil society. It is highlighted the general trends of functioning of the European social-oriented economies. [ABSTRACT FROM AUTHOR]