Ordoliberalism

Ordoliberalism is the German variant of social liberalism that emphasizes the need for the state to ensure that the free market produces results close to its theoretical potential.

Ordoliberal ideals (with modifications) drove the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder. However, ordoliberals promoted the concept of the social market economy, and this concept promotes a strong role for the state with respect to the market, which is in many ways different from the ideas that are nowadays connected with the term neoliberalism.

The term "Ordoliberalism" was coined in 1950 by Hero Moeller, and refers to the academic journal ORDO.

Ordoliberals separate themselves from classical liberals. Notably Walter Eucken, with Franz Böhm, founder of Ordoliberalism and the Freiburg School, rejected Neoliberalism.

The theory was developed from about 1930–1950 by German economists and legal scholars from Freiburg School such as Walter Eucken, Franz Böhm, Hans Grossmann-Doerth, Leonhard Miksch and others.

Ordoliberal ideals (with modifications) drove the creation of the post-World War II German social market economy. They were especially influential on forming a firm competition law in Germany.

Since the 1960s ordoliberal influence on economics and jurisprudence has significantly diminished however many German economists define themselves as Ordoliberals till today, the ORDO (journal) is still published, and the Faculty of Economics at the University of Freiburg is still teaching it. Additionally some Institutes and Foundations like the Walter Eucken Institut or the Stiftung Ordnungspolitik are engaged in the ordoliberal tradition.

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