70 Jahre Wirtschafts- und Währungsreform: Von der Rekonstruktionstheorie zur Ordnungspolitik

Schäfer Wolf
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Schäfer Wolf: Helmut-Schmidt-UniversitätHamburg, Europa-Kolleg Hamburg, Germany

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2018, vol. 69, issue 1, 85-95

Abstract: There are at least two alternative approaches to the valuation of the price and monetary reform in 1948. The one relates to the so-called reconstruction thesis saying that the significant economic recovery in post-war West Germany was not the result of Ludwig Erhard`s monetary reform and price liberalisation policy. Instead, it was the long-run productivity of the country which determined its economic growth independent of Erhard`s reform policy. In this article, it is argued that it was the change of the institutional arrangements as regards introducing more market economy into post-war West Germany. Therefore, what we can learn from Ludwig Erhard´s post war strategy Ordoliberalism as part of the Institutional Economics market approach fosters growth and development. In Germany, Erhard´s market philosophy meanwhile has lost broad political acceptance.

Keywords: Ludwig Erhard; Wirtschaftsreform; Trizone; Rekonstruktionstheorie; Ordnungspolitik; Institutionenökonomik; Fixpreis- und Flexpreisökonomik; Soziale Marktwirtschaft (search for similar items in EconPapers)
JEL-codes: B25 B55 D49 D50 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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DOI: 10.1515/ordo-2019-0008

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