The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism

Malte Dold and Tim Krieger

Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, 2019, vol. 139, issue 2–4, 243-258

Abstract: In the face of the “new” crisis of liberalism, our paper follows the spirit ofWalter Lippmann’s The Good Society and argues for a renewal of (ordo)liberal thinking. Similar to Lippmann, we argue that our current liberal economic order is unfit to deal with fundamental social asymmetries. The benefits of economic integration are distributed unevenly with urban economic and political elites as main beneficiaries and supporters of the current order, while neglecting lessskilled, rural workers. In this paper,we argue for a contemporary ordoliberalism that takes up this distributional challenge. In spite of recurrent criticism of its value-laden nature, we argue that the normativity of ordoliberalism is actually an asset in the current debate on populism.

JEL-codes: B25 B31 B41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (5)

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Working Paper: The "new" crisis of the liberal order: Populism, socioeconomic imbalances, and the response of contemporary ordoliberalism (2019)
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