THE GERMAN ANTI-KEYNES? ON WALTER EUCKEN’S MACROECONOMICS

Lars Feld, Ekkehard Köhler and Daniel Nientiedt

Journal of the History of Economic Thought, 2021, vol. 43, issue 4, 548-563

Abstract: The work of Walter Eucken (1891–1950), founder of German ordoliberalism, is often described as being in direct opposition to that of John Maynard Keynes. Our paper challenges this claim by making two main arguments. First, we show that Eucken supported a proto-Keynesian stimulus program at the height of the Great Depression, the so-called Lautenbach plan of 1931. Second, we analyze his critique of full employment policy, which reveals that Eucken’s approach to solving macroeconomic problems is fundamentally different from, if not necessarily contrary to, that of Keynes.

Date: 2021
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Working Paper: THE GERMAN ANTI-KEYNES? ON WALTER EUCKEN’S MACROECONOMICS (2020)
Working Paper: THE GERMAN ANTI-KEYNES? ON WALTER EUCKEN’S MACROECONOMICS (2020)
Working Paper: The German anti-Keynes? On Walter Eucken's macroeconomics (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jhisec:v:43:y:2021:i:4:p:548-563_4

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