Jamie Peck
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199580576
- eISBN:
- 9780191595240
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199580576.003.0002
- Subject:
- Business and Management, Political Economy
This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. ...
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This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. Neoliberalism was born as a contradictory and contested project, specifically through a series of situated, sympathetic critiques of 19th-century laissez-faire. These were played out, most explicitly, through the work of the Mont Pelerin Society and its associated networks, though these have often been spaces of debate and contestation. In this sense, neoliberalism has always been an open-ended, plural, and adaptable project. At the heart of this lies its contradictory embrace of liberty and order — what can be seen as its ‘Chicago School’ and ‘Ordoliberal’ faces of neoliberalism, respectively. Highlighting the constructed nature of neoliberalism's ideational project, the chapter exposes some of the ‘hidden hands’ that shaped this purposive critique of, and alternative to, Keynesianism.Less
This chapter presents a genealogy of neoliberalism as a free-market ideational program, from the early decades of the 20th century through to its consummation with state power in the 1970s. Neoliberalism was born as a contradictory and contested project, specifically through a series of situated, sympathetic critiques of 19th-century laissez-faire. These were played out, most explicitly, through the work of the Mont Pelerin Society and its associated networks, though these have often been spaces of debate and contestation. In this sense, neoliberalism has always been an open-ended, plural, and adaptable project. At the heart of this lies its contradictory embrace of liberty and order — what can be seen as its ‘Chicago School’ and ‘Ordoliberal’ faces of neoliberalism, respectively. Highlighting the constructed nature of neoliberalism's ideational project, the chapter exposes some of the ‘hidden hands’ that shaped this purposive critique of, and alternative to, Keynesianism.
Anita Chari
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780231173896
- eISBN:
- 9780231540384
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231173896.003.0002
- Subject:
- Philosophy, Political Philosophy
This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created ...
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This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created between the economic and the political in debates between neo-Marxists and radical democrats is a symptom of the ambivalent relationship between the neoliberal State and the economy.Less
This chapter explores debates between neo-Marxists and radical democrats as an important feature of the ideological structure of neoliberal societies. This chapter argues that the impasse created between the economic and the political in debates between neo-Marxists and radical democrats is a symptom of the ambivalent relationship between the neoliberal State and the economy.
Julian Germann
- Published in print:
- 2021
- Published Online:
- May 2021
- ISBN:
- 9781503609846
- eISBN:
- 9781503614291
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9781503609846.003.0004
- Subject:
- Economics and Finance, Economic History
This chapter traces the long-term development of German capitalism from the vantage point of uneven and combined development. It argues that Germany’s postwar social market economy was built upon an ...
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This chapter traces the long-term development of German capitalism from the vantage point of uneven and combined development. It argues that Germany’s postwar social market economy was built upon an externally oriented developmental model inherited from its belated insertion into the world market, and used to enroll capital and labor in a global export offensive. The underlying vision of Germany as the workshop of an advanced industrial and newly industrializing world coincided with the postwar plans of the United States for an open, multilateral global economy. And yet the chapter cautions that the prevailing image of Germany as a liberal “trading state” (Handelsstaat) that had traded power for wealth as its prime objective fails to capture the novel ways in which the German state, from the crisis of the 1970s onward, has come to exert its influence internationally to sustain this export-led social model.Less
This chapter traces the long-term development of German capitalism from the vantage point of uneven and combined development. It argues that Germany’s postwar social market economy was built upon an externally oriented developmental model inherited from its belated insertion into the world market, and used to enroll capital and labor in a global export offensive. The underlying vision of Germany as the workshop of an advanced industrial and newly industrializing world coincided with the postwar plans of the United States for an open, multilateral global economy. And yet the chapter cautions that the prevailing image of Germany as a liberal “trading state” (Handelsstaat) that had traded power for wealth as its prime objective fails to capture the novel ways in which the German state, from the crisis of the 1970s onward, has come to exert its influence internationally to sustain this export-led social model.
Julian Germann
- Published in print:
- 2021
- Published Online:
- May 2021
- ISBN:
- 9781503609846
- eISBN:
- 9781503614291
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9781503609846.003.0008
- Subject:
- Economics and Finance, Economic History
This chapter explores how the German political economy was transformed by the global rise of neoliberalism and how this change feeds into Germany’s approach to the eurocrisis. Rather than being ...
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This chapter explores how the German political economy was transformed by the global rise of neoliberalism and how this change feeds into Germany’s approach to the eurocrisis. Rather than being pushed down an Anglo-American road, German policymakers still seek to preserve what is left of the domestic compromise between capital and labor. The chapter argues that China’s massive demand for German exports informs the long-term vision of a neoliberal Europe structurally adjusted to support the global position of German manufacturers. At the same time, the perceived threat of US interest rates rising out of step with economic conditions in Europe and emerging markets hardened the German stance on austerity during the fever-pitched policy battles at the height of the eurocrisis. Together, these international pressures and opportunities have produced the predicament of German primacy as a transformative and yet destabilizing force within the EU.Less
This chapter explores how the German political economy was transformed by the global rise of neoliberalism and how this change feeds into Germany’s approach to the eurocrisis. Rather than being pushed down an Anglo-American road, German policymakers still seek to preserve what is left of the domestic compromise between capital and labor. The chapter argues that China’s massive demand for German exports informs the long-term vision of a neoliberal Europe structurally adjusted to support the global position of German manufacturers. At the same time, the perceived threat of US interest rates rising out of step with economic conditions in Europe and emerging markets hardened the German stance on austerity during the fever-pitched policy battles at the height of the eurocrisis. Together, these international pressures and opportunities have produced the predicament of German primacy as a transformative and yet destabilizing force within the EU.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.001.0001
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
Today, ordoliberalism is at the center of the ongoing debate about the foundations, the present governance, and future prospects of the European Union—and yet we do not dispose of a comprehensive ...
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Today, ordoliberalism is at the center of the ongoing debate about the foundations, the present governance, and future prospects of the European Union—and yet we do not dispose of a comprehensive definition of it. Whenever we talk of the dominance of the German model, the discussion should involve a detailed picture of ordoliberal principles. This book retraces the intellectual history of ordoliberalism, focusing in particular on the works of its main representatives Walter Eucken and Wilhelm Röpke, together with references to the contributions of Franz Böhm, Alexander Rüstow, Leonhard Miksch, and Friedrich Lutz. The book highlights the crucial, albeit overlooked, role of economic and political power in the making of ordoliberal thought. More precisely, the book shows that ordoliberalism, in its ideological, epistemological, theoretical, and political components, can be defined as a political economy of power; that is, as a form of economic knowledge whose primary objective is to analyze the sources, action, and impact of power within society. By doing so, the book will offer a new perspective on ordoliberals’ key concepts built in the interwar period while contextualizing them within a broader intellectual project.Less
Today, ordoliberalism is at the center of the ongoing debate about the foundations, the present governance, and future prospects of the European Union—and yet we do not dispose of a comprehensive definition of it. Whenever we talk of the dominance of the German model, the discussion should involve a detailed picture of ordoliberal principles. This book retraces the intellectual history of ordoliberalism, focusing in particular on the works of its main representatives Walter Eucken and Wilhelm Röpke, together with references to the contributions of Franz Böhm, Alexander Rüstow, Leonhard Miksch, and Friedrich Lutz. The book highlights the crucial, albeit overlooked, role of economic and political power in the making of ordoliberal thought. More precisely, the book shows that ordoliberalism, in its ideological, epistemological, theoretical, and political components, can be defined as a political economy of power; that is, as a form of economic knowledge whose primary objective is to analyze the sources, action, and impact of power within society. By doing so, the book will offer a new perspective on ordoliberals’ key concepts built in the interwar period while contextualizing them within a broader intellectual project.
Roger E. Backhouse, Bradley W. Bateman, Tamotsu Nishizawa, and Dieter Plehwe (eds)
- Published in print:
- 2017
- Published Online:
- July 2017
- ISBN:
- 9780190676681
- eISBN:
- 9780190676711
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190676681.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the ...
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The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the post–World War II welfare states were liberals. Taking as examples three cases not often considered together—Britain, Germany, and Japan—this volume investigates the thinking of liberal economists about welfare. The first part explores the early history of welfare thinking, from the British New Liberals of the early twentieth century, to German ordoliberals and postwar Japanese liberal economists. This is followed by four chapters on neoliberalism under British Conservative and New Labour governments, after German reunification, and under Koizumi in Japan. The final two chapters explore neoliberal ideas on federalism and the response of neoliberal think tanks to the global financial crisis. These are some of the most important findings: Across the different countries, support emerged very early on for social minimum standards, but strong disagreements quickly developed, dividing economists into pro and contra camps, shaping the different regimes. In the age of retrenchment, means-tested programs, private insurance, and temporary relief in times of crisis appear to have become the norm. The strong impact of efficiency-related critiques of welfare regimes has crowded out more nuanced and complex discussions of the past. Yet neither liberalism nor economic ideas in general can be considered inimical to well-designed welfare provision. The debate on economics and welfare can be improved by considering different lineages of both liberal and neoliberal lines of economic thought.Less
The welfare state has, over the past 40 years, come under increasing attack from liberals who consider comprehensive welfare provision inimical to liberalism. Yet many of the architects of the post–World War II welfare states were liberals. Taking as examples three cases not often considered together—Britain, Germany, and Japan—this volume investigates the thinking of liberal economists about welfare. The first part explores the early history of welfare thinking, from the British New Liberals of the early twentieth century, to German ordoliberals and postwar Japanese liberal economists. This is followed by four chapters on neoliberalism under British Conservative and New Labour governments, after German reunification, and under Koizumi in Japan. The final two chapters explore neoliberal ideas on federalism and the response of neoliberal think tanks to the global financial crisis. These are some of the most important findings: Across the different countries, support emerged very early on for social minimum standards, but strong disagreements quickly developed, dividing economists into pro and contra camps, shaping the different regimes. In the age of retrenchment, means-tested programs, private insurance, and temporary relief in times of crisis appear to have become the norm. The strong impact of efficiency-related critiques of welfare regimes has crowded out more nuanced and complex discussions of the past. Yet neither liberalism nor economic ideas in general can be considered inimical to well-designed welfare provision. The debate on economics and welfare can be improved by considering different lineages of both liberal and neoliberal lines of economic thought.
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.001.0001
- Subject:
- Political Science, Political Economy, International Relations and Politics
Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert ...
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Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert networks and resources shaping the form of the local hybrid. This does not mean that all local translations shape policy, however. External constraints and translators’ access to cohesive policy institutions filter what kind of hybrids become policy reality. By comparing the moderate neoliberalism that prevails in Spain with the more radical one that shapes policy thinking in Romania, the book explains why neoliberal hybrids took such different forms and how they survived the post-2008 crisis. Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceauşescu period in Romania, covers these countries’ economic integration into the EU, and continues through Europe’s Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.Less
Economic ideas with global reach are powerful because their domestic translators make them go local, hybridizing global scripts with local ideas, with intellectual legacies, transnational expert networks and resources shaping the form of the local hybrid. This does not mean that all local translations shape policy, however. External constraints and translators’ access to cohesive policy institutions filter what kind of hybrids become policy reality. By comparing the moderate neoliberalism that prevails in Spain with the more radical one that shapes policy thinking in Romania, the book explains why neoliberal hybrids took such different forms and how they survived the post-2008 crisis. Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceauşescu period in Romania, covers these countries’ economic integration into the EU, and continues through Europe’s Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.
Ioannis Lianos
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780804789394
- eISBN:
- 9780804791625
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804789394.003.0003
- Subject:
- Law, Competition Law
Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take ...
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Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take into account the emergence of the neoliberal state. By advancing a “bureaucratic-centered theory” of the competition law and state interaction, this chapter offers an alternative interdisciplinary theoretical framework that can be successfully transposed into different institutional and cultural settings.Less
Current accounts of the interaction between competition law and state activities are based on a clear-cut old liberalism style distinction between “state”/“government” and “market” that does not take into account the emergence of the neoliberal state. By advancing a “bureaucratic-centered theory” of the competition law and state interaction, this chapter offers an alternative interdisciplinary theoretical framework that can be successfully transposed into different institutional and cultural settings.
Philip Manow
- Published in print:
- 2020
- Published Online:
- July 2020
- ISBN:
- 9780198842538
- eISBN:
- 9780191878503
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198842538.003.0003
- Subject:
- Political Science, Political Economy
Chapter 3 argues that the cooperation in the interwar period between, economically, unions and employers and, politically, between Social and Christian Democracy, estranged the liberal Protestant ...
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Chapter 3 argues that the cooperation in the interwar period between, economically, unions and employers and, politically, between Social and Christian Democracy, estranged the liberal Protestant camp from its former pet project, social reform. An important consequence of this estrangement was the birth of ordoliberalism. Ordoliberalism, however, was much less influential in the postwar period than usually claimed. It legitimized a politics of non-intervention, which rather left a void for the corporate actors to fill, so it involuntarily furthered corporatism, not liberalism. Otherwise it provided the inability of the central state to actively manage the economy with a post hoc ideological justification. Thus, Germany’s postwar compromise was “bipolar,” combining corporatist cooperation between capital and labor, heavily reliant on the organizational and material resources of the welfare state, with a central government with limited capacity for macroeconomic steering and without the means of credibly issuing promises of full employment (as the main difference in comparison to the Scandinavian cases).Less
Chapter 3 argues that the cooperation in the interwar period between, economically, unions and employers and, politically, between Social and Christian Democracy, estranged the liberal Protestant camp from its former pet project, social reform. An important consequence of this estrangement was the birth of ordoliberalism. Ordoliberalism, however, was much less influential in the postwar period than usually claimed. It legitimized a politics of non-intervention, which rather left a void for the corporate actors to fill, so it involuntarily furthered corporatism, not liberalism. Otherwise it provided the inability of the central state to actively manage the economy with a post hoc ideological justification. Thus, Germany’s postwar compromise was “bipolar,” combining corporatist cooperation between capital and labor, heavily reliant on the organizational and material resources of the welfare state, with a central government with limited capacity for macroeconomic steering and without the means of credibly issuing promises of full employment (as the main difference in comparison to the Scandinavian cases).
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0001
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
The introduction outlines the purpose of the book, its perspective, and its approach. Having identified three chronological moments in the making of ordoliberalism, the author illustrates its main ...
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The introduction outlines the purpose of the book, its perspective, and its approach. Having identified three chronological moments in the making of ordoliberalism, the author illustrates its main themes and objectives and their relations with the current debate on ordoliberalism. The author then summarizes the contents of the book and indicates its basic structure and features, briefly anticipating its main conclusions. He examines the contributions of several important figures in the ordoliberal arena, including Walter Eucken and Wilhelm Röpke, and gives a brief history of their works and their influence on modern economics as it pertains especially to Europe. A discussion of the concept of “power” in economics is also provided.Less
The introduction outlines the purpose of the book, its perspective, and its approach. Having identified three chronological moments in the making of ordoliberalism, the author illustrates its main themes and objectives and their relations with the current debate on ordoliberalism. The author then summarizes the contents of the book and indicates its basic structure and features, briefly anticipating its main conclusions. He examines the contributions of several important figures in the ordoliberal arena, including Walter Eucken and Wilhelm Röpke, and gives a brief history of their works and their influence on modern economics as it pertains especially to Europe. A discussion of the concept of “power” in economics is also provided.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0002
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
This first chapter outlines ordoliberals’ implicit philosophy of history, building a causal link between historical liberalism in the nineteenth century and economic planning as developed in the ...
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This first chapter outlines ordoliberals’ implicit philosophy of history, building a causal link between historical liberalism in the nineteenth century and economic planning as developed in the first half of the twentieth century. Ordoliberals based their historical interpretation on an anthropological hypothesis in which the instinct to acquire power is the driving force of mankind. To paraphrase Marx’s famous formula: for ordoliberals, history is the history of the struggles for economic power. Rather than reflecting on the conditions for the development of a competitive market economy, the ordoliberals analyzed what they perceived as the deleterious effects of certain types of economic systems (laissez-faire liberalism for instance) for the whole political and social order.Less
This first chapter outlines ordoliberals’ implicit philosophy of history, building a causal link between historical liberalism in the nineteenth century and economic planning as developed in the first half of the twentieth century. Ordoliberals based their historical interpretation on an anthropological hypothesis in which the instinct to acquire power is the driving force of mankind. To paraphrase Marx’s famous formula: for ordoliberals, history is the history of the struggles for economic power. Rather than reflecting on the conditions for the development of a competitive market economy, the ordoliberals analyzed what they perceived as the deleterious effects of certain types of economic systems (laissez-faire liberalism for instance) for the whole political and social order.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0004
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
Ordoliberals studied the manifestations of power through a “morphological” lens (opposing the centrally administered economy to the economy of exchange), leading Eucken to take a stand in relation to ...
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Ordoliberals studied the manifestations of power through a “morphological” lens (opposing the centrally administered economy to the economy of exchange), leading Eucken to take a stand in relation to two of the great international discussions of the discipline in the interwar years: the feasibility of a socialist calculation and the debate over imperfect/monopolistic market structures. The theoretical substance of these two debates is closely related to a political quest for stability of the economic and social order. The centrally administered economy is characterized by the strong influence of what ordoliberals saw as illegitimate powers on the economic process. But ordoliberals considered that, within the exchange economy system itself, markets were not free from power relations. The contribution of Stackelberg to the analysis of unbalanced market structures is therefore indispensable for understanding the literary marginalism of the ordoliberals.Less
Ordoliberals studied the manifestations of power through a “morphological” lens (opposing the centrally administered economy to the economy of exchange), leading Eucken to take a stand in relation to two of the great international discussions of the discipline in the interwar years: the feasibility of a socialist calculation and the debate over imperfect/monopolistic market structures. The theoretical substance of these two debates is closely related to a political quest for stability of the economic and social order. The centrally administered economy is characterized by the strong influence of what ordoliberals saw as illegitimate powers on the economic process. But ordoliberals considered that, within the exchange economy system itself, markets were not free from power relations. The contribution of Stackelberg to the analysis of unbalanced market structures is therefore indispensable for understanding the literary marginalism of the ordoliberals.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0005
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
From a political perspective, ordoliberals formulated a “new” social question based on the collapse of human freedom and autonomy in the face of the rise of private and public economic powers. Thus ...
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From a political perspective, ordoliberals formulated a “new” social question based on the collapse of human freedom and autonomy in the face of the rise of private and public economic powers. Thus ordoliberals regarded the dispersion of economic power within the economic process as the key to overcome the social question. Finding an answer to the social question required the institution and perpetuation of the competitive order. Thus, the ordoliberal economic policy is directed toward the dispersion of economic power. Ordoliberals considered competition as a formidable tool for the disempowering of private economic power and for regulating the social body. Tracing the various manifestations of economic power led the ordoliberals to consider a broad program of economic and social policies that should be politically implemented by a strong state.Less
From a political perspective, ordoliberals formulated a “new” social question based on the collapse of human freedom and autonomy in the face of the rise of private and public economic powers. Thus ordoliberals regarded the dispersion of economic power within the economic process as the key to overcome the social question. Finding an answer to the social question required the institution and perpetuation of the competitive order. Thus, the ordoliberal economic policy is directed toward the dispersion of economic power. Ordoliberals considered competition as a formidable tool for the disempowering of private economic power and for regulating the social body. Tracing the various manifestations of economic power led the ordoliberals to consider a broad program of economic and social policies that should be politically implemented by a strong state.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0006
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
This last chapter outlines the ordoliberal discourse in the early postwar period (1946–1950) and the way it gained traction on the political stage. The author shows that the ordoliberals sought to ...
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This last chapter outlines the ordoliberal discourse in the early postwar period (1946–1950) and the way it gained traction on the political stage. The author shows that the ordoliberals sought to establish a continuity between the economic order of the Third Reich and the administration of the Western Allies and thereby confronted political authorities with the fact that proper denazification could succeed only if Nazi planning methods were rejected. This argument has been constructed around various kinds of documentation, including advisory reports, newspaper/magazine articles, and academic publications. Ultimately, the chapter contributes both to a better definition of ordoliberal ideas (especially of their critical scope) and to a better knowledge of competing ideologies in the early Cold War context.Less
This last chapter outlines the ordoliberal discourse in the early postwar period (1946–1950) and the way it gained traction on the political stage. The author shows that the ordoliberals sought to establish a continuity between the economic order of the Third Reich and the administration of the Western Allies and thereby confronted political authorities with the fact that proper denazification could succeed only if Nazi planning methods were rejected. This argument has been constructed around various kinds of documentation, including advisory reports, newspaper/magazine articles, and academic publications. Ultimately, the chapter contributes both to a better definition of ordoliberal ideas (especially of their critical scope) and to a better knowledge of competing ideologies in the early Cold War context.
Raphaël Fèvre
- Published in print:
- 2022
- Published Online:
- October 2021
- ISBN:
- 9780197607800
- eISBN:
- 9780197607831
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197607800.003.0007
- Subject:
- Economics and Finance, Economic History, History of Economic Thought
After having briefly summarized the content of the book, this concluding chapter uses the definition of ordoliberalism as a political economy of power to discuss what is today called the “ordoliberal ...
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After having briefly summarized the content of the book, this concluding chapter uses the definition of ordoliberalism as a political economy of power to discuss what is today called the “ordoliberal core” of European governance. The conclusion shows that the word “ordoliberalism” refers to two separates—and at time conflicting—paradigms: an old form of political economy and a new form of neoliberal orthodoxy. Hence the conclusion investigates the reasons for the political success of ordoliberalism in the immediate aftermath of the war, as well as to what extent the lasting influence of the ordoliberal discourse was accompanied by its transformation: abandoning its original form of a political economy of power to embody the contemporary form of neoliberal orthodoxy in the European Union.Less
After having briefly summarized the content of the book, this concluding chapter uses the definition of ordoliberalism as a political economy of power to discuss what is today called the “ordoliberal core” of European governance. The conclusion shows that the word “ordoliberalism” refers to two separates—and at time conflicting—paradigms: an old form of political economy and a new form of neoliberal orthodoxy. Hence the conclusion investigates the reasons for the political success of ordoliberalism in the immediate aftermath of the war, as well as to what extent the lasting influence of the ordoliberal discourse was accompanied by its transformation: abandoning its original form of a political economy of power to embody the contemporary form of neoliberal orthodoxy in the European Union.
Mark I. Vail
- Published in print:
- 2018
- Published Online:
- January 2018
- ISBN:
- 9780190683986
- eISBN:
- 9780190684020
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190683986.003.0002
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of ...
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This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of the state and its relationship to groups and individual citizens. Using a broad range of historical source material and the works of influential political philosophers, it outlines the analytical frameworks central to French “statist liberalism,” German “corporate liberalism,” and Italian “clientelist liberalism.” It shows how these evolving traditions shaped the structure of each country’s postwar political-economic model and the policy priorities developed during the postwar boom through the early 1970s and provides conceptual touchstones for the direction and character of these traditions’ evolution in the face of the neoliberal challenge since the 1990s. The chapter demonstrates that each tradition accepted elements of a more liberal economic order while rejecting neoliberalism’s messianic market-making agenda and its abstract and disembedded political-economic vision.Less
This chapter analyzes the development of French, German, and Italian liberalism from the nineteenth century to the 1980s, giving particular attention to each tradition’s conceptions of the role of the state and its relationship to groups and individual citizens. Using a broad range of historical source material and the works of influential political philosophers, it outlines the analytical frameworks central to French “statist liberalism,” German “corporate liberalism,” and Italian “clientelist liberalism.” It shows how these evolving traditions shaped the structure of each country’s postwar political-economic model and the policy priorities developed during the postwar boom through the early 1970s and provides conceptual touchstones for the direction and character of these traditions’ evolution in the face of the neoliberal challenge since the 1990s. The chapter demonstrates that each tradition accepted elements of a more liberal economic order while rejecting neoliberalism’s messianic market-making agenda and its abstract and disembedded political-economic vision.
Harald Hagemann
- Published in print:
- 2017
- Published Online:
- July 2017
- ISBN:
- 9780190676681
- eISBN:
- 9780190676711
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190676681.003.0004
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Public and Welfare
The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic ...
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The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic policy in the new Federal Republic of Germany in that period was decisively shaped and influenced by the ordoliberal ideas of Walter Eucken and the Freiburg school and the principles of the social-market economy. Whereas Keynesianism of the Hicks-Samuelson neoclassical synthesis had already evolved into the dominant view in the academic sphere during the 1950s, it took until the 1966–67 recession for Keynesianism to find a late (and short) entry into German economic policy with the entry of the Social Democrats into government and their charismatic minister of economics, Karl Schiller.Less
The chapter deals with the development of the welfare state in the first three decades after World War II, in which the West German economy ran through a remarkable catching-up process. Economic policy in the new Federal Republic of Germany in that period was decisively shaped and influenced by the ordoliberal ideas of Walter Eucken and the Freiburg school and the principles of the social-market economy. Whereas Keynesianism of the Hicks-Samuelson neoclassical synthesis had already evolved into the dominant view in the academic sphere during the 1950s, it took until the 1966–67 recession for Keynesianism to find a late (and short) entry into German economic policy with the entry of the Social Democrats into government and their charismatic minister of economics, Karl Schiller.
Michael A. Wilkinson
- Published in print:
- 2021
- Published Online:
- September 2021
- ISBN:
- 9780198854753
- eISBN:
- 9780191888946
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198854753.003.0012
- Subject:
- Law, Constitutional and Administrative Law
<Online Only>This chapter explores how the crisis of the material constitution was underpinned by the erosion of democracy, and not only by the dominance of ordoliberalism and neo-liberalism. It ...
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<Online Only>This chapter explores how the crisis of the material constitution was underpinned by the erosion of democracy, and not only by the dominance of ordoliberalism and neo-liberalism. It discusses how the deepening of the liberal market rationality of integration came to occur in a more disciplinary mode throughout the euro crisis, dismantling domestic social contracts, if ultimately still under the guidance of domestic elites. This was contested by extraordinary popular countermovements, which emerged to break out of the straitjacket of austerity. In particular, the chapter discusses the election to government in Greece of a left-wing party, Syriza, reflecting broader anti-systemic currents across Europe. The chapter concludes by examining how Syriza’s subsequent capitulation symbolized not merely the increasingly powerful external constraints of EU membership, but the homegrown roots of the dominant constitutional imaginary: a fear of popular sovereignty and of radical democracy under the veil of an ideological Europeanism.</Online Only>Less
<Online Only>This chapter explores how the crisis of the material constitution was underpinned by the erosion of democracy, and not only by the dominance of ordoliberalism and neo-liberalism. It discusses how the deepening of the liberal market rationality of integration came to occur in a more disciplinary mode throughout the euro crisis, dismantling domestic social contracts, if ultimately still under the guidance of domestic elites. This was contested by extraordinary popular countermovements, which emerged to break out of the straitjacket of austerity. In particular, the chapter discusses the election to government in Greece of a left-wing party, Syriza, reflecting broader anti-systemic currents across Europe. The chapter concludes by examining how Syriza’s subsequent capitulation symbolized not merely the increasingly powerful external constraints of EU membership, but the homegrown roots of the dominant constitutional imaginary: a fear of popular sovereignty and of radical democracy under the veil of an ideological Europeanism.</Online Only>
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.003.0004
- Subject:
- Political Science, Political Economy, International Relations and Politics
The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ...
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The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ordoliberal influences gave Spanish neoliberalism its moderate flavor. In postwar Spain, the relatively liberal regulation of the economics profession, the Western training of many key economists and the exposure to neoclassical economics of many academics during the interwar years facilitated the gradual spread of neoclassical economic ideas in both the central bank and academia. However, Anglo-American neoclassical economics had a major competitor in the local translation of Germany’s ordoliberalism, which contributed to the moderation of both Keynesian and neoliberal ideas in Spain throughout this country’s authoritarian and postauthoritarian history.Less
The fact that the global dissemination of neoliberalism during the 1970s found postauthoritarian Spain with a critical mass of internationalized policy economists exposed to competing Keynesian and ordoliberal influences gave Spanish neoliberalism its moderate flavor. In postwar Spain, the relatively liberal regulation of the economics profession, the Western training of many key economists and the exposure to neoclassical economics of many academics during the interwar years facilitated the gradual spread of neoclassical economic ideas in both the central bank and academia. However, Anglo-American neoclassical economics had a major competitor in the local translation of Germany’s ordoliberalism, which contributed to the moderation of both Keynesian and neoliberal ideas in Spain throughout this country’s authoritarian and postauthoritarian history.
Cornel Ban
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780190600389
- eISBN:
- 9780190600419
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190600389.003.0009
- Subject:
- Political Science, Political Economy, International Relations and Politics
The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and ...
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The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and transnational firms with political leverage knocked on an open door when they demanded deep austerity and neoliberal structural reforms. However, it was local intellectual innovations that explain why policy leaders at the highest levels outbid these demands with a blend of libertarian, conservative, and ordoliberal theories about the state and society. Benefiting from a period of institutional cohesion, many of these ideas jelled into policy. Although technocrats less committed to neoliberalism took up top posts in a new cabinet after 2012, their ideas had a limited reach in the policy process because of the constitutionalization of fiscal policy by the EU, the conditionalities of the Troika, the pressures of foreign capital, and the institutional fragmentation of the policy process.Less
The interplay between external structural constraints, domestic institutions, and domestic ideological debates explains the resilience of disembedded neoliberalism in Romania after 2008. IFIs and transnational firms with political leverage knocked on an open door when they demanded deep austerity and neoliberal structural reforms. However, it was local intellectual innovations that explain why policy leaders at the highest levels outbid these demands with a blend of libertarian, conservative, and ordoliberal theories about the state and society. Benefiting from a period of institutional cohesion, many of these ideas jelled into policy. Although technocrats less committed to neoliberalism took up top posts in a new cabinet after 2012, their ideas had a limited reach in the policy process because of the constitutionalization of fiscal policy by the EU, the conditionalities of the Troika, the pressures of foreign capital, and the institutional fragmentation of the policy process.