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Diesseits von Angebot und Nachfrage / On this side of supply and demand

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  • Horn Karen

Abstract

In his book „Beyond supply and demand“ (1958), Wilhelm Röpke castigates the social trend towards materialism and secularism. People allegedly view everything from a calculating economic perspective, they lose access to the spiritual source of moral values. According to Röpke, the market is a net consumer of morality. If morality doesn‘t regularly receive new input from separate sources such as religion, it disappears - and with it the basis for the market. But does it make sense to posit such a fundamental dichotomy between the market and morality? For the individual, both spheres overlap. Its institutional character set apart, the market is only an abstract name for the interaction of people in society. It is within a feedback process generating reciprocity that not only the economic wealth of nations comes about, but also their moral wealth - the evolving social capital that is foundational for society, consisting of values, shared religious and other beliefs, morals and traditions

Suggested Citation

  • Horn Karen, 2011. "Diesseits von Angebot und Nachfrage / On this side of supply and demand," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 62(1), pages 539-554, January.
    • Handle: RePEc:bpj:ordojb:v:62:y:2011:i:1:p:539-554:n:25
    DOI: 10.1515/ordo-2011-0125
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    References listed on IDEAS

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    1. Karen Ilse Horn, 2009. "Roads to Wisdom, Conversations with Ten Nobel Laureates in Economics," Books, Edward Elgar Publishing, number 13646.
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