Walter Eucken`s Principles of Economic Policy Today

Ulrich van Suntum, Jens Oelgemöller, Cordelius Ilgmann and Tobias Böhm

No 201175, Working Papers from Institute of Spatial and Housing Economics, Munster Universitary

Abstract: Walter Eucken was the head of the Freiburg school of economics, a circle of German ordoliberal scholars of the interwar period, whose thoughts were highly influential in the immediate post war period. Being disillusioned by what he called the “age of experiments”- the failure of both classical liberalism and socialism - he formulated eleven principles for what he called a market economy, in which competition would not only limit the extent of private economic power, but also lead to an efficient allocation of resources and hence to economic prosperity. Although the principles never received much international attention, in the light of recent economic research on both institutions and welfare economics the thrust of Eucken’s work appears to be very modern indeed. This paper highlights these parallels and proposes a reformulation of Eucken`s principles in the light of modern economic theory. We thus attempt to make a contribution to the current debate on the efficient design of those institutions that shape economic activity.

JEL-codes: E61 P51 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.wiwi.uni-muenster.de/cawm/forschen/Down ... mic-Policy-Today.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.wiwi.uni-muenster.de/cawm/forschen/Download/Diskbeitraege/DP-49_Euckens-Principles-of-Economic-Policy-Today.pdf [301 Moved Permanently]--> https://www.wiwi.uni-muenster.de/cawm/forschen/Download/Diskbeitraege/DP-49_Euckens-Principles-of-Economic-Policy-Today.pdf [301 Moved Permanently]--> https://www.wiwi.uni-muenster.de/mep/forschen/Download/Diskbeitraege/DP-49_Euckens-Principles-of-Economic-Policy-Today.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:muc:wpaper:201175

Access Statistics for this paper

More papers in Working Papers from Institute of Spatial and Housing Economics, Munster Universitary Contact information at EDIRC.
Bibliographic data for series maintained by Norbert Hiller ( this e-mail address is bad, please contact ).