Die Grundlagen der Nationalökonomie

Abstract

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‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis

“…Indeed, Eucken was highly critical of Keynesianism and its conviction that government intervention in the form of expansionary fiscal policy should (or indeed could) hyper‐manage the economy to fulfil the goal of full employment. He regarded Keynesianism to be a theory without order, in the sense that it set no limits on how expansionary fiscal policy could be (Eucken, ), inferring a serious risk that Keynesianism would entail permanent public deficits. According to Eucken, the state's responsibility was not to ensure full employment but to provide the stability and predictability to enhance the possibility of this goal being met (Eucken, ).…”

“…According to Eucken, the state's responsibility was not to ensure full employment but to provide the stability and predictability to enhance the possibility of this goal being met (Eucken, ). Thus, an ordoliberal viewpoint dictates that what should be attempted by the government is the establishment of predictable economic constitution ( Wirtschaftsverfassung ) (Eucken, , p. 239ff), which replaces Keynesianism's activist exercises of fiscal policy (Hutchinson, , p. 163f). But while ordoliberalism is emphatic in rejecting what might be termed Keynesian micro‐management, it is nonetheless more committed to state activity than its intellectual cousin, laissez‐faire liberalism (often equated, in a contemporary context, to neoliberalism).…”

The Problem of Restructuring Modern Capitalism: The Road to a Unified Science of Positive and Social Economics

“…The same is true for historical, ethical, practical and doctrinal knowledge. During the Methodenstreit in the German economic school this law was broken when an attempt was made to refute theoretical knowledge by the use of historical knowledge and vice versa, a procedure which leads nowhere but to insoluble antinomies [15] or degenerates into endless ideological disputes [16].…”

Local Public Services in Italy: Still Fragmentation

“…An important consequence is that competition law takes priority over law of contract (Marcou 2009(Marcou , 2015b. This was recognised by the promoters of Ordoliberalismus (Eucken 1965 ), nowadays recognised as one of the basic principles of the EU. According to Article 3.3 of the TFEU, the EU is based on a 'social market economy', a clear reference to Ordoliberalismus .…”