IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v39y2019i1p28-43.html
   My bibliography  Save this article

Prospects for an ordoliberal reform of the European Union

Author

Listed:
  • Jürgen Wandel

Abstract

This article discusses the prospects for an ordoliberal reform of the European Union in order to tackle its multiple crises. It shows what an ordoliberal European Union would have to look like and examines the constraints its implementation faces. Three reasons are identified that make an ordoliberal reform of the EU at present unlikely. First, in the EU's most powerful member state, Germany, where ordoliberalism has its origins, economic policy adheres increasingly less to this strain of economic thinking. Second, given the primacy of European integration in domestic politics, Germany values European unity higher than economic principles. Third, once Brexit is complete Germany will lack influential allies for an ordoliberal reshaping of the EU.

Suggested Citation

  • Jürgen Wandel, 2019. "Prospects for an ordoliberal reform of the European Union," Economic Affairs, Wiley Blackwell, vol. 39(1), pages 28-43, February.
    • Handle: RePEc:bla:ecaffa:v:39:y:2019:i:1:p:28-43
    DOI: 10.1111/ecaf.12334
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/ecaf.12334
    Download Restriction: no
    File URL: https://libkey.io/10.1111/ecaf.12334?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
    ---><---

    References listed on IDEAS

    as
    1. Roland Vaubel, 2009. "Constitutional courts as promoters of political centralization: lessons for the European Court of Justice," European Journal of Law and Economics, Springer, vol. 28(3), pages 203-222, December.
    2. Vaubel, Roland, 1994. "The Political Economy of Centralization and the European Community," Public Choice, Springer, vol. 81(1-2), pages 151-190, October.
    3. Werner Bonefeld, 2012. "Freedom and the Strong State: On German Ordoliberalism," New Political Economy, Taylor & Francis Journals, vol. 17(5), pages 633-656, November.
    4. Feld, Lars P. & Köhler, Ekkehard A. & Nientiedt, Daniel, 2015. "Ordoliberalism, pragmatism and the eurozone crisis: How the German tradition shaped economic policy in Europe," Freiburg Discussion Papers on Constitutional Economics 15/04, Walter Eucken Institut e.V..
    5. Roland Vaubel, 1996. "Constitutional safeguards against centralization in federal states: An international cross-section analysis," Constitutional Political Economy, Springer, vol. 7(2), pages 79-102, June.
    6. Goldschmidt, Nils, 2004. "Alfred Müller-Armack and Ludwig Erhard: Social Market Liberalism," Freiburg Discussion Papers on Constitutional Economics 04/12, Walter Eucken Institut e.V..
    7. Michael Wohlgemuth, 2013. "Introduction: German neo-liberalism and its relevance for Austrian economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(2), pages 105-108, June.
    8. Markus K. Brunnermeier & Harold James & Jean-Pierre Landau, 2016. "The Euro and the Battle of Ideas," Economics Books, Princeton University Press, edition 1, number 10828.
    9. Blyth, Mark, 2013. "Austerity: The History of a Dangerous Idea," OUP Catalogue, Oxford University Press, number 9780199828302.
    10. Christian Dustmann & Bernd Fitzenberger & Uta Sch?nberg & Alexandra Spitz-Oener, 2014. "From Sick Man of Europe to Economic Superstar: Germany's Resurgent Economy," Journal of Economic Perspectives, American Economic Association, vol. 28(1), pages 167-188, Winter.
    11. Armstrong, H. & De Kervenoael, R. J. & Li, X. & Read, R., 1998. "A comparison of the economic performance of different micro-states, and between micro-states and larger countries," World Development, Elsevier, vol. 26(4), pages 639-656, April.
    12. Vanberg, Viktor J., 2004. "The Freiburg School: Walter Eucken and Ordoliberalism," Freiburg Discussion Papers on Constitutional Economics 04/11, Walter Eucken Institut e.V..
    13. Laaser, Claus-Friedrich & Rosenschon, Astrid, 2016. "Subventionen in Deutschland bis zum Jahre 2015/2016: Das Geld sitzt deutlich lockerer," Kieler Beiträge zur Wirtschaftspolitik 9, Kiel Institute for the World Economy (IfW Kiel).
    14. Vaubel, Roland, 1994. "The public choice analysis of European integration: A survey," European Journal of Political Economy, Elsevier, vol. 10(1), pages 227-249, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Dmitrii Trubnikov, 2024. "The ‘means’ and the ‘ends’ of economic calculation: The missing aspect of an epochal dispute," Economic Affairs, Wiley Blackwell, vol. 44(2), pages 281-293, June.
    2. Dmitrii Trubnikov, 2022. "Rethinking the pandemic narrative: An ordoliberal perspective," Economic Affairs, Wiley Blackwell, vol. 42(2), pages 327-343, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Malte Dold & Tim Krieger, 2023. "The ideological use and abuse of Freiburg’s ordoliberalism," Public Choice, Springer, vol. 195(3), pages 341-361, June.
    2. Jörg Bibow, 2018. "How Germany’s anti-Keynesianism has brought Europe to its knees," International Review of Applied Economics, Taylor & Francis Journals, vol. 32(5), pages 569-588, September.
    3. Roland Vaubel, 2013. "Secession in the European Union," Economic Affairs, Wiley Blackwell, vol. 33(3), pages 288-302, October.
    4. Peter Nedergaard & Holly Snaith, 2015. "‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 53(5), pages 1094-1109, September.
    5. Forte Francesco, 2018. "Röpke and Einaudi: from the Civitas of Persons to the Idea of Europe," Journal for Markets and Ethics, Sciendo, vol. 6(1), pages 1-10, June.
    6. Stephan Puehringer, 2016. "Think Tank networks of German neoliberalism. Power structures in economics and economic policies in post-war Germany," ICAE Working Papers 53, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    7. Guter-Sandu, Andrei & Murau, Steffen, 2022. "The Eurozone’s evolving fiscal ecosystem: mitigating fiscal discipline by governing through off-balance-sheet fiscal agencies," LSE Research Online Documents on Economics 109790, London School of Economics and Political Science, LSE Library.
    8. Jakob Kapeller & Stephan Puehringer & Christian Grimm, 2022. "Paradigms and policies: the state of economics in the German-speaking countries," Review of International Political Economy, Taylor & Francis Journals, vol. 29(4), pages 1183-1210, July.
    9. Lars P. Feld & Ekkehard A. Köhler & Daniel Nientiedt, 2015. "Ordoliberalism, Pragmatism and the Eurozone Crisis: How the German Tradition Shaped Economic Policy in Europe," CESifo Working Paper Series 5368, CESifo.
    10. Beat Spirig & Rolf Weder, 2008. "To Wait or Not to Wait: Swiss EU-Membership as an Investment under Uncertainty," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 144(I), pages 85-114, March.
    11. Vaubel, Roland, 1997. "The constitutional reform of the European Union," European Economic Review, Elsevier, vol. 41(3-5), pages 443-450, April.
    12. Andreas Kyriacou, 2009. "Decision rules, membership and political centralization in the European Union," European Journal of Law and Economics, Springer, vol. 27(2), pages 143-158, April.
    13. Lars P. Feld & Ekkehard A. Köhler, 2023. "Standing on the shoulders of giants or science? Lessons from ordoliberalism," Public Choice, Springer, vol. 195(3), pages 197-211, June.
    14. Nils Redeker & Stefanie Walter, 2020. "We’d rather pay than change the politics of German non-adjustment in the Eurozone crisis," The Review of International Organizations, Springer, vol. 15(3), pages 573-599, July.
    15. Hebous, Shafik & Weichenrieder, Alfons J., 2015. "Towards a fiscal union? On the acceptability of a fiscal transfer system in the eurozone," SAFE White Paper Series 28, Leibniz Institute for Financial Research SAFE.
    16. Stephan Puehringer & Walter Oetsch, 2019. "Die Wirkmacht der 'Liebe zum Markt'. Zum anhaltenden Einfluss ordoliberaler OekonomInnen-Netzwerke in Politik und Gesellschaft (The 'love for markets'. On the persistent political and societal impact ," ICAE Working Papers 92, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    17. Hien, Josef, 2019. "The Religious Foundations of the European Crisis," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 57(2), pages 185-204.
    18. Stefan Kolev, 2020. "Besieged by the left and the right: The order of liberal globalism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(4), pages 521-533, December.
    19. Giocoli, Nicola, 2008. "Competition vs. property rights: American antitrust law, the Freiburg School and the early years of European competition policy," MPRA Paper 33807, University Library of Munich, Germany.
    20. Laica, Christoph & Lauber, Arne & Sahm, Marco, 2017. "Sequential round-robin tournaments with multiple prizes," BERG Working Paper Series 129, Bamberg University, Bamberg Economic Research Group.

    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:ecaffa:v:39:y:2019:i:1:p:28-43. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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=0265-0665 .

    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.