IDEAS home Printed from https://ideas.repec.org/a/bla/ajecsc/v44y1985i2p169-183.html
   My bibliography  Save this article

Eucken's ‘Social Market Economy’ and Its Test in Post‐War West Germany

Author

Listed:
  • Siegfried G. Karsten

Abstract

. Walter Eucken's paradigm of a “social market economy” and “Ordnung” provides a framework for a functional free‐market mechanism, which not only accommodates development and change, but which also assures human dignity and freedom, as cornerstones of the Kantian moral universe. Eucken places special emphasis on the integration of economics with “order” and “Justice,” in a synthesis of negative liberty and positive freedom and of Rawls' and Nozick's theories of justice. Adam Smith's laissez faire economy does not assure a competitive economy, he holds, and will evolve into monopolistic practices, interventionism, and distortions of price relationships; but “structural” and “regulating” principles will facilitate a functionally competitive economy with a compatible social policy, characterized by a flexible price mechanism and stable policies. This “social market economy” would provide goods and services efficiently and also eliminate poverty and the maldistribution of income and resources.

Suggested Citation

  • Siegfried G. Karsten, 1985. "Eucken's ‘Social Market Economy’ and Its Test in Post‐War West Germany," American Journal of Economics and Sociology, Wiley Blackwell, vol. 44(2), pages 169-183, April.
    • Handle: RePEc:bla:ajecsc:v:44:y:1985:i:2:p:169-183
    DOI: 10.1111/j.1536-7150.1985.tb02331.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1536-7150.1985.tb02331.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1536-7150.1985.tb02331.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Anne Isla, 2017. "Libéralisme, néolibéralisme, ordo-libéralisme, libertarisme… : où se situe la politique de Donald Trump dans les traditions libérales ?," Post-Print halshs-02133603, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ajecsc:v:44:y:1985:i:2:p:169-183. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.