An Austrian School View on Eucken’s Ordoliberalism. Analyzing the Roots and Concept of German Ordoliberalism from the Perspective of Austrian School Economics
DOI:
https://doi.org/10.52195/pm.v17i1.4Keywords:
democracy, Private Property Order, Hoppe, Hayek, Wilhelm Röpke, Walter Eucken, Franz Böhm, Müller-Armack, Ludwig Erhard, Ordoliberalism, Ordo, Mont Pèlerin Society, human rights, liberalism, libertarianism, Austrian school of economics, anarcho-capitalismAbstract
This paper explains the origins and the theoretical concept of Ordo-liberalism, focusing in particular on one of its founders, Walter Eucken. We will focus on the political and economic concepts of Ordoliberalism in regards to interventionism, competition, monopolies, democracy and property rights. For a better understanding, we will compare its main positions and rationale with both, the concept of a social market economy, as well as with the theoretical background of the Austrian School of economics. We pretend to define how much State is necessary to assure a long-term maximization of human rights and individual liberty, while also evaluating at what stage a State becomes too big, potentially turning into a totalitarian autocracy.
References
Bagus, P. (2016). “Why Austrians Are Not Neoliberals.” Mises Wire. Retrieved 05 December 2019 from: https://mises.org/library/why-austrians-are-not-neoliberals
Böhmler, A. (1998). El Ideal Cultural del Liberalismo: La Filosofía Política del Ordoliberalismo. Unión Editorial, Madrid.
Boettke, P. (1990). “The Theory of Spontaneous Order and Cultural Evolution in the Social Theory of F.A. Hayek.” Cultural Dynam- ics 3 (1): 61–83.
Boykin, A. (2010). “Hayek on Spontaneous Order and Constitu- tional Design.” The Independent Review, v. 15, n. 1, p. 19–34, 2010. Buchanan, J. M. & Tullock, G. (1962/1990). The Calculus of Consent. Logical Foundations of Constitutional Democracy, Ann Arbor.
Eucken, W. (1934). „Was leistet die Nationalökonomische Theorie?“ Kapitaltheoretische Untersuchungen. Jena, Fischer.
— (1949). Die Wettbewerbsordnung und ihre Verwirklichung. Ordo 2(1).
— (1950). Technik. Konzentration und Ordnung der Wirtschaft. Ordo 3(1)
— (1952). Grundsätze der Wirtschaftspolitik. Tübingen, Germany.
— (1956). Fundamentos de Política Económica. Rialp, Madrid.
Eucken, W., Müller-Armack, A., Stackelberg, H. (1963). Economía de mercado. Sociedad de Estudios y Publicaciones, Madrid.
Friedmann, D. (1989). Machinery of Freedom — 2nd edition, Open Court.
Hayek, F.A. (1944). The Road to Serfdom. Chicago: University of Chi- cago Press.
— (1973). Law, Legislation and Liberty. London: Routledge.
— (1988). The Fatal Conceit: The Errors of Socialism. Chicago: Univer- sity of Chicago Press.
— (1977). “Remembering my Cousin, Ludwig Wittgenstein.” Encounter, August 1977, p. 20
Hartwell, R.M. (1995). A History of the Mont Pèlerin Society. Liberty Fund, Indianapolis.
Hoppe, H.H. (2003). Die Österreichische Schule und ihre Bedeutung für die moderne Wirtschaftswissenschaft.
— (1989). “Fallacies of the Public Goods Theory and the Produc- tion of Security.” The Journal of Libertarian Studies (Vol. IX, No. 1).
— (1993). The Economics and Ethics of Private Property: Studies in Political Economy and Philosophy. Auburn: Ludwig von Mises Institute.
— (2006).Democracy — The Gold That Failed. The Economics and Poli- tics of Monarchy, Democracy, and Natural Order, Transaction Pub- lishers, New Brunswick (U.S.A.).
— (2010). A Theory of Socialism and Capitalism, Ludwig von Mises Institute, Auburn, US Alabama.
Huerta de Soto, J. (2009). The Theory of Dynamic Efficiency. Abing- don-on-Thames: Routledge Foundations of the Market Econ- omy.
Keynes, J. (1936). The General Theory of Employment, Interest and Money. London: Palgrave Macmillan.
Kirzner, I. (1973). Competition and Entrepreneurship. University of Chicago Press.
Leoni, B. (1979). Freedom and the Law. Indianapolis, Liberty Fund. Mises, L. (1949). Human Action: A Treatise on Economics. Yale University Press
— (1975). Liberalismo. Unión Editorial, Madrid.
— (1919). Nation, State, and Economy: Contributions to the Politics and History of Our Time. New York: New York University Press, 1983 (1st edition).
Molina Cano, J. (2007). Epítome de la Política Social. SEPREMU, Murcia.
— (2001): La Tercera vía en Wilhelm Röpke. Instituto Empresa y Humanismo, Pamplona.
Mourlon-Druol, E. (2015): “Trust is good, control is better. The 1974 Herstatt Bank Crisis and its Implications for International Reg- ulatory Reform.” Business History. Vol. 57(2).
Müller-Armack, A. (1947). Wirtschaftslenkung und Marktwirtschaft, Hamburg.
Negro Pavon, D. (1988). El Liberalismo en España. Una Antología, Unión Editorial, Madrid.
Nozick, R. (1974). Anarchy, State, and Utopia. Basic Books, New York Nussbaum, M. (2001). The Fragility of Goodness. Revised Edition, Cambridge
— (2013). Creating Capabilities: The Human Development Approach. Belknap Press, Cambridge, Massachusetts.
— (1999). Aristotelian Social Democracy: Liberalism and the Good. New York/London
Oliver, H. (1960). “German Neoliberalism.” Quarterly Journal of Eco- nomics, 74(1), 117-149.
Ostrom, E. (1990): Governing the Commons. The evolution of institu- tions for collective action. Cambridge, University Press.
Polanyi, M. (1940). The Contempt of Freedom. Arno Press, New York.
— (1948). “Planning and Spontaneous Order.” The Manchester School of Economic and Social Studies 16: 237–68.
— (1951). Logic of Liberty. University of Chicago Press.
Raico, R. (1996). “Mises on Fascism, Democracy, and Other Ques- tions.” Journal / Libertarian Studies 12(1)
Reimers, P. (2018). “Fiat Lux and Crony Capitalism — The Impact of Monetary and Fiscal Policies in the Automobile Industry in USA and Europe from 2001 to 2010.” Procesos de Mercado. Vol. 15, Nº 2, 2018, pp. 107-164.
— (2019). “Monarchy, Democracy and Private Property Order — How human rights have been violated and how to protect them.” Procesos de Mercado. Vol. 16, N° 1, pp. 177-212.
— (2019). “Secession, Democracy & Human Right.” Mises: Interdis- ciplinary Journal of Philosophy Law and Economics, São Paulo, 7(1)
Riese, H. (1972). „Ordnungsidee und Ordnungspolitik — Kritik einer wirtschaftspolitischen Konzeption.“ Kyklos, 25(1), 24–48.
Roepke, W. (1946). The German Question. George Allen & Unwin Ltd, London.
— (1971) A Humane Economy. Indianapolis, Ind.: Liberty Fund, pp. 129-36.
Rothbard, M. (1973). For a New Liberty. Macmillan Publishing, New York.
— (1962, 2004). Man, Economy and the State. Editorial Ludwig von Mises Institute.
Vanberg, V. J. (2011). “The Freiburg School: Walter Eucken and Ordoliberalism.” Freiburg Discussion Papers on Constitutional Economics.
White, L. (2010). “The German Miracle: Another Look.” CATO. Retrieved 07 December 2019 from: https://www.cato.org/publications/commentary/german-miracle-another-look
Zmirak, J. (2002). “Wilhelm Röpke: Architect of Liberty.” Mises Daily Articles. Retrieved on 04 November 2019 from: https://mises.org/library/wilhelm-r%C3%B6pke-architect-liberty
Downloads
Published
Versions
- 2023-01-03 (3)
- 2020-02-22 (2)
