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Ordoliberalism
Ordoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential. Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant . The term "ordoliberalism" () was coined in 1950 by and refers to the academic journal '' ORDO''. Linguistic differentiation Ordoliberals separate themselves from classical liberals. Notably, , with , founder of ordoliberalism and the Freiburg School, rejected neoliberalism. Ordoliberals promote the concept of the social market economy, which favors a strong role for the state with respect to the market and which is in many ways different from the ideas connected to the term "neoliberalism". The term "neoliberalism" was originally coined in 1938 at the by , who is regarded as an ordoliberal today. Because of the connected history, ordoliberalism is sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Market Economy
The social market economy (SOME; ), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, is a socioeconomic model combining a free-market capitalist economic system with social policies and enough regulation to establish both fair competition within the market and generally a welfare state. It is sometimes classified as a regulated market economy. The social market economy was originally promoted and implemented in West Germany by the Christian Democratic Union under Chancellor Konrad Adenauer in 1949 and today it is used by ordoliberals, social liberals and social democrats alike. Its origins can be traced to the interwar Freiburg school of economic thought. The social market economy was designed to be a middle way between ''laissez-faire'' forms of capitalism and socialist economics. It was strongly inspired by ordoliberalism, which was influenced by the political ideology of Christian democracy. Social market refrains from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Democratic Party (Germany)
The Free Democratic Party (, FDP, ) is a liberalism, liberal political party in Germany. The FDP was founded in 1948 by members of former liberal political parties in Germany before World War II, namely the German Democratic Party and the German People's Party. For most of the second half of the 20th century, particularly from 1961 to 1982, the FDP held the Balance of power (parliament), balance of power in the Bundestag. It has been a junior coalition partner to both the CDU/CSU (1949–1956, 1961–1966, 1982–1998, and 2009–2013) and Social Democratic Party of Germany, Social Democratic Party (SPD; 1969–1982 and 2021–2024). In the 2013 German federal election, 2013 federal election, the FDP failed to win any directly elected seats in the Bundestag and came up short of the Electoral threshold#Germany, 5 percent threshold to qualify for list representation, being left without representation in the Bundestag for the first time in its history. In the 2017 German federal el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Rüstow
Alexander Rüstow (8 April 1885 – 30 June 1963) was a German sociologist and economist. At the Colloque Walter Lippmann in August 1938 he popularised the term "neoliberalism". He became one of the fathers of the "Social Market Economy" that shaped the economy of West Germany after World War II. Rüstow was the grandnephew of Wilhelm Rüstow, the grandson of Cäsar Rüstow and the father of Dankwart Rustow. Life Rüstow was born in Wiesbaden in the Prussian Province of Hesse-Nassau in to the family of a Prussian military officer. From 1903 till 1908, he studied mathematics, physics, philosophy, philology, law and economics, at the universities of Göttingen, Munich and Berlin. In 1908, he obtained his doctorate under Paul Hensel, at the University of Erlangen, on a philosophical topic, Russell's paradox. He then worked at the Teubner publishing house in Berlin, until 1911, when he started working on his habilitation, on the knowledge theory of Parmenides. He had to interru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Eucken
Walter Eucken (; 17 January 1891 – 20 March 1950) was a German economist of the Freiburg school and father of ordoliberalism. Ordoliberalism was based on the concept of social market economy balancing free markets with regulatory oversight. The Walter Eucken Institut was founded four years after his death and his ideas influenced West Germany’s economic policy. Early life and education Walter Eucken was born on 17 January 1891 in Jena in the German state of Saxe-Weimar-Eisenach (present-day Thuringia), a son of the philosopher Rudolf Eucken, and his wife, Irene née Passow (1863–1941), a painter. Walter grew up in an intellectually stimulating environment. His father was one of the most influential philosophers of the German Empire and the winner of the 1908 Nobel Prize in Literature. Eucken's father read Aristotle with his sons in the original Greek. Visitors to the family villa included Stefan George, Hugo von Hofmannsthal, Ernst Ludwig Kirchner, Edvard Munch and Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberalism
Neoliberalism is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. The term has multiple, competing definitions, and is most often used pejoratively. In scholarly use, the term is often left undefined or used to describe a multitude of phenomena. However, it is primarily employed to delineate the societal transformation resulting from market-based reforms. Neoliberalism originated among European liberal scholars during the 1930s. It emerged as a response to the perceived decline in popularity of classical liberalism, which was seen as giving way to a social liberal desire to control markets. This shift in thinking was shaped by the Great Depression and manifested in policies designed to counter the volatility of free markets. One motivation for the development of policies designed to mitigate the volatility of capitalist free markets was a desire to avoid repeating the eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wilhelm Röpke
Wilhelm Röpke (; 10 October 1899 – 12 February 1966) was a German economist and social critic, one of the spiritual fathers of the social market economy. A professor of economics, first in Jena, then in Graz, Marburg, Istanbul, and finally Geneva, Röpke theorised and collaborated to organise the post-World War II economic re-awakening of the war-wrecked German economy, deploying a program referred to as ordoliberalism, a more conservative variant of German liberalism.Razeen Sally, ''Classical Liberalism and International Economic Order'', Routledge, 2002, , p. 106 With Alfred Müller-Armack and Alexander Rüstow (sociological neoliberalism) and Walter Eucken and Franz Böhm (ordoliberalism) he elucidated the ideas, which then were introduced formally by Germany's post-World War II Minister for Economics Ludwig Erhard, operating under Konrad Adenauer's Chancellorship. Röpke and his colleagues' economic influence therefore is considered largely responsible for enabling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wirtschaftswunder
The ''Wirtschaftswunder'' (, "economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the Economy, economies of West Germany and Austria after World War II. The expression was first used to refer to this phenomenon by ''The Times'' in 1950. Beginning with the Monetary reform, replacement of the German reichsmark, Reichsmark with the Deutsche Mark in 1948 as legal tender (the Austrian schilling, Schilling was similarly re-established in Austria), a lasting era of low inflation and rapid industrial growth was overseen by the government led by Chancellor of Germany (Federal Republic), West German Chancellor Konrad Adenauer and his Minister of Economics, Ludwig Erhard, who went down in history as the "father of the West German economic miracle". In Austria, efficient labor practices led to a similar period of economic growth. The era of economic growth raised West Germany and Austria from total wartime devastation to developed nat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Liberalism
Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism. Economic liberalism is associated with markets and private ownership of capital assets. Economic liberals tend to oppose government intervention and protectionism in the market economy when it inhibits free trade and competition, but tend to support government intervention where it protects property rights, opens new markets or funds market growth, and resolves market failures. An economy that is managed according to these precepts may be described as a liberal economy or o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporatism
Corporatism is an ideology and political system of interest representation and policymaking whereby Corporate group (sociology), corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, come together and negotiate contracts or policy (collective bargaining) on the basis of their common interests. The term is derived from the Latin ''corpus'', or "body". Corporatism does not refer to a political system dominated by large business interests, even though the latter are commonly referred to as "corporations" in modern American vernacular and legal parlance. Instead, the correct term for that theoretical system would be corporatocracy. The terms "corporatocracy" and "corporatism" are often confused due to their similar names and to the use of corporations as organs of the state. Corporatism developed during the 1850s in response to the rise of classical liberalism and Marxism, and advocated cooperation between the classes instead of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franz Böhm
Franz Böhm (16 February 1895 – 26 September 1977) was a German politician, lawyer, and economist. Early life Franz Böhm was born on 16 February 1895 in Konstanz. He moved along with his family in 1898 to Karlsruhe as his father was appointed the Minister of Cultural Affairs for the Grand Duke of Baden. Early career After completing his Abitur and military service, Böhm enlisted in the military at the beginning of World War I. He was the first citizen of Karlsruhe to be awarded the Iron Cross. In 1919 Böhn began studying law and political science at the University of Freiburg and completed his Staatsexamen in 1924, receiving shortly thereafter a job as a public prosecutor. Böhm published his first essay entitled "Das Problem der privaten Macht, ein Beitrag zur Monopolfrage" (The problem of private power; a contribution to the question of monopolies) in 1928, establishing himself as a prominent economist. In the wake of the publication of this essay, fellow economists A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Eucken Institut
The Walter Eucken Institut is a German ordo-liberal economic think tank based in Freiburg im Breisgau, Baden-Württemberg, Germany. The Institute was founded in 1954, four years after the death of economist Walter Eucken, by a number of his friends and pupils. The Institute's creation was supported by Ludwig Erhard, then Secretary of Economic Affairs and later Chancellor of West Germany. Honorary Presidents have included Nobel laureates Friedrich Hayek and James M. Buchanan. Since September 2010, the institute is directed by Lars Feld. The Walter Eucken Institute's research interest is constitutional and institutional questions in economics and social sciences, including preserving and developing a free market order, classical liberal ideas and their institutional realisation, and the economic constitution of the European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the Europea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Freiburg
The University of Freiburg (colloquially ), officially the Albert Ludwig University of Freiburg (), is a public university, public research university located in Freiburg im Breisgau, Baden-Württemberg, Germany. The university was founded in 1457 by the House of Habsburg, Habsburg dynasty as the second university in Austrian-Habsburg territory after the University of Vienna. Today, Freiburg is the List of universities in Germany#Universities by date of establishment, fifth-oldest university in Germany, with a long tradition of teaching the humanities, social sciences and natural sciences and technology and enjoys a high academic reputation both nationally and internationally. The university is made up of 11 faculty (division), faculties and attracts students from across Germany as well as from over 120 other countries. Foreign students constitute about 18.2% of total student numbers. The University of Freiburg has been associated with figures such as Hannah Arendt, Rudolf Carna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
