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Prospects for an ordoliberal reform of the European Union

Jürgen Wandel

Economic Affairs, 2019, vol. 39, issue 1, 28-43

Abstract: This article discusses the prospects for an ordoliberal reform of the European Union in order to tackle its multiple crises. It shows what an ordoliberal European Union would have to look like and examines the constraints its implementation faces. Three reasons are identified that make an ordoliberal reform of the EU at present unlikely. First, in the EU's most powerful member state, Germany, where ordoliberalism has its origins, economic policy adheres increasingly less to this strain of economic thinking. Second, given the primacy of European integration in domestic politics, Germany values European unity higher than economic principles. Third, once Brexit is complete Germany will lack influential allies for an ordoliberal reshaping of the EU.

Date: 2019
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Handle: RePEc:bla:ecaffa:v:39:y:2019:i:1:p:28-43