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German Neo-Liberals and the Social Market Economy : Trade Policy Research Centre - Professor Alan T. Peacock

German Neo-Liberals and the Social Market Economy

Trade Policy Research Centre

By: Professor Alan T. Peacock (Editor), Hans Willgerodt (Editor), Daniel Johnson (Editor)

Hardcover Published: 21st August 1989
ISBN: 9780333485644
Number Of Pages: 242

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This volume is a collection of ten essays in which the authors assess the contribution of the German Ordo-liberals fifty years after the founders of the liberal movement in Germany stated their aims and objectives. The Ordo-liberals were a group of liberal economic and legal thinkers in the Federal Republic of Germany who came into prominence as a result of their influence on, and participation in, post-war economic policy in the Federal Republic when Ludwig Erhard was Minister for Economic Affairs and, later, Chancellor. They became known as Ordo-liberals because of their commitment to designing the appropriate economic and legal system. The essays in this volume consider not only the philosophy of the Ordo-liberals and their concept of the social market economy, but are also concerned with the contribution of the Ordo-liberals to more practical problems. The role of the public sector, the control of mergers and monopolies and the problem of sound money are among the topics considered, as well as the views of the Ordo-liberals on the international order. Many of the authors of these essays are well known internationally and they represent a wide range of contemporary liberal thought. The book will be warmly welcomed by students and scholars interested in economic philosophy and the place of liberalism in contemporary thought.

The essays in this volume have been translated from the German in order to bring to the notice of a wider public the views of a group of German liberal economic and legal thinkers. This group of economists and lawyers came into prominence as a result of their influence on, and participation in, post-war economic policy in the Federal Republic of Germany when Ludwig Erhard was Minister for Economic Affairs and, later, Chancellor. Seventeen essays have been selected to express the thoughts of the group who, because of their commitment ot designing the appropriate economic and legal order system, became known as Ordo-liberals. The essays deal with a wide range of contemporary problems, such as the control of monopolies, the problem of the welfare state and the need for self-help, the role of the trade unions in industrial societies, as well as with the more philosophical question of whether capitalist and communist systems are moving closer together in their approach to economic problems to such an extent that they will eventually converge. This book will be of interest to all those who are concerned with contemporary problems both at practical and philosophical levels.

Trade Policy Research Centre Notes on the Contributors Preface OVERALL VIEW OF THE GERMAN LIBERAL MOVEMENT; A.Peacock and H.Willegerodt Policy Objectives 'Spontaneous' and 'Corrective' Orders Economic Policy Monetary Control Competition Policy Public Sector Concluding Remarks EVOLUTION OF THE SOCIAL MARKET ECONOMY; H.O.Lenel Introduction of a Market Economy Importance of Principles in Economic Systems Aims and Elements of the System Importance of Conformity Social Policy Aims Freedom in the Economic System Framework for Economic Systems Ownership of Property Continuity of Economic Policy Importance of the Public Sector EXILES AND HALF-EXILES: WILHELM RA-PKE, ALEXANDER RAuSTOW AND WALTER EUKEN; D.Johnson Background and Careers Response to the 1930s Depression Emergence of Neo-liberal Thought Walter Eucken and the Freiberg Group Refutation of Historicism Eucken and Die Grundlagen der Nationalokonomie Community of Exiles in Turkey Wilhelm Ropke and his Work Contribution of Alexander Rustow ROLE OF THE PUBLIC SECTOR IN THE SOCIAL MARKET ECONOMY; N.Kloten Forms of State Control Role of the Public Sector The New State and the Basic Policy Decisions Birth of the Social Market Economy Reconstruction of the Public Sector Performance of the Public Sector Labour Relations Competition Policy Some Causes of Failure Identified The Problem of Monopoly Labour-market Problems Overall Demand Management Exchange-rate Policy Analysis of Failure Social Policy A Few Conclusions POLITICAL AND ECONOMIC THOUGHT OF GERMAN NEO-LIBERALS; N.P.Barry Contemporary Revival of Liberalism Main Elements of the Social Market Economy Beyond Supply and Demand Conclusion FRANZ BA-HM AND THE DEVELOPMENT OF ECONOMIC-CONSTITUTIONAL ANALYSIS; J.Tumlir Personality, Experience, Philosophy Problem of Private Power The Notion of 'Re-feudalisation' Private Law Society Historical Development of Private Law The State and the Constitution Choice of an Economic Constitution Conclusion COMPETITION POLICY FROM AN ORDO POINT OF VIEW; W.Moschel Development of the Idea of Competition Recent Historical Background Goal of Competition: Freedom or Efficiency Impossibility of Competition Uselessness of Competition Law Doctrines of Selective Intervention Philosophical Basis of the Ordo-liberal Competition Concept Historical Influence of Ordo-liberalism Role of the State Rule of Law versus Discretionar Decisions Competition Policy and the General Economic System SOCIAL POLICY AND THE SOCIAL MARKET ECONOMY; J.Wiseman What is the 'Social Market Economy'? A Simplistic Formulisation Market Economy and Social Market Economy A Few Practical Worries Analytical Reflections Social Market Economy in Practice Concluding Comments and Proposals INTERNATIONAL ECONOMIC ORDER: CONTRIBUTION OF ORDO-LIBERALS; G.Curzon Diagnosis of the Problem Essential Underpinnings of the Liberal International System Collectivism, Keynesianism, Inflation and Pseudo-order Causes of Social Disintegration European Integration and Ordo-Liberalism Ordo-liberals and Less-developed Countries Conclusion ORDO-LIBERALS AND THE CONTROL OF THE MONEY SUPPLY; P.Bernholz Sound Money and a Free Market System Monetary Stability Type of Money, Monetary Constitution, Business Cycles and Inflation Problems of the International Monetary System Problem of an Adequate Monetary System Conclusions List of References Index

ISBN: 9780333485644
ISBN-10: 0333485645
Series: Trade Policy Research Centre
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 242
Published: 21st August 1989
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 24.51 x 16.0  x 2.0
Weight (kg): 0.49
Edition Number: 2