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Germany after World War II: Ordoliberalism, the Social Market Economy and Keynesianism

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  • Harald Hagemann

Abstract

The post-1945 development of economics in Germany is characterized by important similarities as well as by some considerable differences compared to other European countries. The strong growth of international trade was accompanied by an increasing internationalization of economics that was simultaneously for a greater part a process of Americanization. The historically unmatched growth from 1950 to the early 1970s was associated by the growth of economics as an academic discipline and an increasing "economization" of public life. German economics also ran through the rise and fall of Keynesianism as well as a switch to monetarist ideas and supply-side policies in the mid- 1970s after the first oil price shock. On the other hand, some special factors exist which distinguish the German case from the development of economics elsewhere.The paper illustrates the relationship between the political and the economic sphere in Germany after WWII

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  • Harald Hagemann, 2013. "Germany after World War II: Ordoliberalism, the Social Market Economy and Keynesianism," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2013(1), pages 37-51.
    • Handle: RePEc:fan:spespe:v:html10.3280/spe2013-001003
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    1. Hagemann, Harald, 2005. "Dismissal, Expulsion, and Emigration of German-Speaking Economists after 1933," Journal of the History of Economic Thought, Cambridge University Press, vol. 27(4), pages 405-420, December.
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    Cited by:

    1. Rocío Sánchez-Lissen & María Teresa Sanz-Díaz, 2020. "The journal Moneda y Crédito as a vehicle spreading the social market economy in Spain (1943-1966)," Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 16(01), pages 125-135.
    2. Krieger, Tim & Nientiedt, Daniel, 2022. "The renaissance of ordoliberalism in the 1970s and 1980s," Discussion Paper Series 2022-05, University of Freiburg, Wilfried Guth Endowed Chair for Constitutional Political Economy and Competition Policy.
    3. Giovanni Farese, 2019. "I fondamenti morali dell'economia di mercato. La pedagogia economica di Luigi Einaudi e Ludwig Erhard (On the moral foundations of the market economy. The economic pedagogy of Luigi Einaudi and Ludwig," Moneta e Credito, Economia civile, vol. 72(288), pages 379-388.
    4. Stefano Figuera & Andrea Pacella, 2021. "La teoria euckeniana della moneta: spunti per una riflessione critica (Eucken's theory of money: ideas for critical reflection)," Moneta e Credito, Economia civile, vol. 74(296), pages 275-299.

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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other

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