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The Ordoliberal Variety of NeoliberalismGerhard SchnyderKing's College London; Centre for Business Research Mathias M. SiemsDurham University - Durham Law School; University of Cambridge - Centre for Business Research September 6, 2012 Suzanne Konzelmann and Marc Fovargue-Davies (eds.), Banking Systems in the Crisis: The Faces of Liberal Capitalism, Abingdon: Routledge, 2013, pages 250-268. Abstract: Ordoliberalism differs from other liberal theories in not supporting the simplistic idea that the ‘government is the problem’. The aim of this chapter is therefore to explain the core features of ordoliberalism and distinguish it from other varieties of liberalism. We also show that ordoliberal concepts are not isolated phenomena but that they are related to institutional economic ideas under different names. Such ‘ordo-institutional’ perspectives have gained in appeal in the context of the current financial crisis, because they seem to attenuate extreme views of market libertarianism, while still accommodating broadly neoliberal, anti-Keynesian and anti-socialist ideas.
Number of Pages in PDF File: 29 Keywords: ordoliberalism, neoliberalism, Chicago School, institutional economics, financial crisis JEL Classification: A12, A14, B00, B25, B41, B52, G01, K20, N42, N44, P51 Accepted Paper SeriesDate posted: September 7, 2012 ; Last revised: November 25, 2012Suggested CitationContact Information
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