: The article deals with the economic policy concepts of three groups that opposed National Socialism: the so‐called Freiburg (Eucken, Lampe, Dietze), the Goerdeler, and the Kreisau Circles (Moltke, Yorck). First, the personal relationships among the members of the circles and their relationship to the military resistance are highlighted, with special emphasis on Stauffenberg. Second, their liberal and conservative concepts and proposals and memoranda are discussed. Finally, the differences and similarities of the concepts of the groups are demarcated and the questions are posed whether they influenced post‐war German economic policy and how far their ideas are still relevant today.