Krisenprävention als ordnungspolitische Aufgabe / The role of institutional economics in crisis prevention

Schüller Alfred

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2009, vol. 60, issue 1, 355-388

Abstract: The recent financial and economic crisis raises the questions of how to conduct an appropriate diagnosis of the causes for the crisis as well as how to develop remedies not only to deal with the current crisis but also to prevent the development of crises in the future. In order to facilitate a systematic analysis of the two key questions posed above, this article initially provides a comparison of the differences between the institutional economic and the interventionist approach. Subsequently, the article explores the consequences of the solutions proposed by the two different approaches for the likelihood of the development of new crises and the risk of international contagion, the effectiveness of means to combat the current crisis, and, in particular, the opportunity to prevent future crises.

Date: 2009
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DOI: 10.1515/ordo-2009-0118

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