Ordoliberalism and the social market economy

Lars Feld, Ekkehard Köhler and Daniel Nientiedt

No 21/5, Freiburg Discussion Papers on Constitutional Economics from Walter Eucken Institut e.V.

Abstract: [Introduction] Contrary to its usage in current political discourse, the term neoliberalism originally referred to those schools of economic thought that opposed laissez-faire liberalism and wanted to assign a more active role to the state. Faced with the economic turmoil of the late 19th and early 20th century - including the poverty of the working class, concentrations of power in the hand of large corporations and multiple monetary and economic crises - neoliberals posited that the government should intervene in private markets in order to uphold competition. [...]

Date: 2021
New Economics Papers: this item is included in nep-his and nep-hpe
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