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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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    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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