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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 but does not advocate for a welfare state. Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant . The term "ordoliberalism" (german: Ordoliberalismus) was coined in 1950 by Hero Moeller, 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 promoted the concept of the social market economy, and this concept promotes a strong role for the state with respect to the market, which is in many ways different from the ideas connected to the term neoliberalism. Ironically, the term neoliberalism was originally coined in 1938, at the , by , who i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Market Economy
The social market economy (SOME; german: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and 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 of Germany under Chancellor Konrad Adenauer in 1949, and today the term is used by ordoliberals, social liberals, and social democrats, who generally reject full state ownership of the means of production but support egalitarian distribution of all goods and services in a market segment. 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-fair ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Rüstow
Alexander Rüstow (8 April 1885 – 30 June 1963) was a German sociologist and economist. In 1938 he originated the term neoliberalism at the Colloque Walter Lippmann. He was one of the fathers of the "Social Market Economy" that shaped the economy of West Germany after World War II. He is 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 mathematical 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 interrupt his work though a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberalism
Neoliberalism (also neo-liberalism) is a term used to signify the late 20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War. A prominent factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominantly advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society. The defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate. As an economic philosophy, neoliberalism emerged among European liberal scholars in the 1930s as they attempted to revive and renew central ideas from classical liberalism as they saw these ideas dimin ... [...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 economies of West Germany and Austria after World War II (adopting an ordoliberalism-based social market economy). The expression referring to this phenomenon was first used by ''The Times'' in 1950. Beginning with the replacement of the Reichsmark with the Deutsche Mark in 1948 as legal tender (the Schilling was similarly re-established in Austria), a lasting era of low inflation and rapid industrial growth was overseen by the government led by 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 nations in modern Europe. At the founding of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ORDO (journal)
(English: ''The Ordo Yearbook of Economic and Social Order'', most commonly referred to as ''Ordo Yearbook'', or simply as ''ORDO'') is a peer-reviewed academic journal established in 1948 by German economists Walter Eucken and Franz Böhm. The journal focuses on the economic and political institutions governing modern society. History The term ordoliberalism was coined echoing the journal's title. Furthermore, the concept of social market economy, being the main economic model used in Western and Northern Europe during and after the Cold War era, has been developed nearly exclusively within ''ORDO''. Today, the journal's mission is to provide a forum of debate for scholars of diverse disciplines such as economics, law, political science, sociology, and philosophy.Frank Boenker, Agnès Labrousse, and Jean-Daniel Weisz (2000):The Evolution of Ordoliberalism in the Light of the Ordo Yearbook. A Bibliometric Analysis" in: A. Labrousse and J. D. Weisz (Eds.), ''Institutional Econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franz Böhm
Franz Böhm (16 February 1895, Konstanz – 26 September 1977, Rockenberg) 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporatism
Corporatism is a collectivist political ideology which advocates the organization of society by corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, on the basis of their common interests. The term is derived from the Latin ''corpus'', or "body". As originally conceived, and as enacted in fascist states in mid-20th century Europe, corporatism was meant to be an alternative to both free market economies and socialist economies. The hypothesis that society will reach a peak of harmonious functioning when each of its divisions efficiently performs its designated function, as a body's organs individually contributing its general health and functionality, lies at the center of corporatist theory. 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 ... [...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] |
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 political and economic union of member states that are located primarily in Europe. The union h ... [...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. He is closely linked with the development of the concept of "social market economy". Early life Walter Eucken was born on 17 January 1891 in Jena in Saxe-Weimar-Eisenach (present-day Thuringia), as son of the philosopher Rudolf Eucken (1846–1926), who won the 1908 Nobel Prize in Literature and his wife, Irene (1863–1941, née Passow), a painter. Walter had one sister and one brother, the chemist/physicist Arnold Eucken. Walter grew up in an intellectually stimulating environment. His father was one of the most influential philosophers of the German Empire and read Aristotle with his sons in the original. Visitors to the family villa included Stefan George, Hugo von Hofmannsthal, Ernst Ludwig Kirchner, Edvard Munch and Ferdinand Hodler. Walter Eucken studied ''Nationalökonomie'' (economics) at Kiel, Bonn and Jena and was awarded his doctorate at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freiburg School
__notoc__ The Freiburg school (german: Freiburger Schule) is a school of economic thought founded in the 1930s at the University of Freiburg. It builds somewhat on the earlier historical school of economics but stresses that only some forms of competition are good, while others may require oversight. This is considered a lawful and legitimate role of government in a democracy in the Freiburg School. The School provided the economic theoretical elements of ordoliberalism and the social market economy in post-war Germany. The Freiburg school of economics was called 'neoliberalism' until Anglo-American scholars reappropriated the term. Adherents * Franz BöhmBlumenberg-Lampe, Christine (2004). "Franz Böhm." Christliche Demokraten gegen Hitler: Aus Verfolgung und Widerstand zur Union. Ed. Buchstab, Günter; Kaff, Brigitte; Kleinmann, Hans-Otto. Freiburg, Germany: Herder, 2004. 108. Print. * Juergen B. Donges * Ludwig Erhard * Walter Eucken * Edith Eucken-Erdsiek * Andreas Freytag * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Law
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
