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The concept of Ordnungspolitik through the lens of the theory of limited and open access orders

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  • Joachim Zweynert

Abstract

The paper argues that there are certain parallels between the ideas of ordoliberalism and the framework of limited and open access order (LAO/OAO) as developed by North, Wallis, Webb and Weingast (NWWW): Both approaches focus on the “interdependence of orders”, and both share an emphasis on state capacity in processes of social transition. I also argue that the ideas of the ordoliberals might give impulses for the further development of the LAO/OAO research agenda. Firstly, whereas NWWW mainly deal with the transition process from LAO to OAO, the members of the Freiburg school intensely dealt with the danger that an OAO might revert into an LAO. Accordingly, they spent much effort on developing policy proposals that aimed at preventing such a ‘re-feudalisation’ (Franz Böhm) of society. Secondly, especially when it came to the issue of accomplishing reforms, they also considered the role of informal institutions and beliefs, a topic somewhat neglected in the LAO/OAO-framework in its present form. Copyright Springer Science+Business Media New York 2015

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  • Joachim Zweynert, 2015. "The concept of Ordnungspolitik through the lens of the theory of limited and open access orders," Constitutional Political Economy, Springer, vol. 26(1), pages 4-18, March.
    • Handle: RePEc:kap:copoec:v:26:y:2015:i:1:p:4-18
    DOI: 10.1007/s10602-014-9173-z
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    References listed on IDEAS

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    1. Joachim Zweynert, 2006. "Shared Mental Models, Catch-up Development and Economic Policy-Making: The Case of Germany after World War II and its Significance for Contemporary Russia," Eastern Economic Journal, Eastern Economic Association, vol. 32(3), pages 457-478, Summer.
    2. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    3. Wallis, John Joseph, 2011. "Institutions, organizations, impersonality, and interests: The dynamics of institutions," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1), pages 48-64.
    4. North,Douglass C. & Wallis,John Joseph & Weingast,Barry R., 2013. "Violence and Social Orders," Cambridge Books, Cambridge University Press, number 9781107646995, September.
    5. Zweynert, Joachim, 2009. "Interests versus culture in the theory of institutional change?," Journal of Institutional Economics, Cambridge University Press, vol. 5(3), pages 339-360, December.
    6. Khalil, Elias, 2006. "The Roadblock of Culturalist Economics: Economic Change á la Douglass North," MPRA Paper 1045, University Library of Munich, Germany.
    7. Joachim Zweynert, 2013. "How German is German neo-liberalism?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(2), pages 109-125, June.
    8. Maria Pia Paganelli, 2008. "The Adam Smith Problem in Reverse: Self-Interest in The Wealth of Nations and The Theory of Moral Sentiments," History of Political Economy, Duke University Press, vol. 40(2), pages 365-382, Summer.
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    10. Haggard, Stephan & Tiede, Lydia, 2011. "The Rule of Law and Economic Growth: Where are We?," World Development, Elsevier, vol. 39(5), pages 673-685, May.
    11. Wallis, John Joseph, 2011. "Institutions, organizations, impersonality, and interests: The dynamics of institutions," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1-2), pages 48-64, June.
    12. Köhler, Ekkehard & Kolev, Stefan, 2011. "The conjoint quest for a liberal positive program: "Old Chicago", Freiburg and Hayek," HWWI Research Papers 109, Hamburg Institute of International Economics (HWWI).
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    Cited by:

    1. Dmitrii Trubnikov, 2022. "Rethinking the pandemic narrative: An ordoliberal perspective," Economic Affairs, Wiley Blackwell, vol. 42(2), pages 327-343, June.
    2. Duarte Pablo, 2018. "Monetary Policy, Privileges and Economic Development: Ordoliberal Lessons for the EMU," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 69(1), pages 135-152, July.

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    Keywords

    B25; B53; P44;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • P44 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation

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