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On the stability of open access orders: the Federal Republic of Germany since the 1960s

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  • Jan-Otmar Hesse

Abstract

The Article applies the NWW-approach to the economic history of post-war Germany. The approach suggests it was only after the Second World War that Germany arrived at the most advanced institutional structure that does not any longer restrict access to economic and political resources. Though critical on that suggestion, the article does not aim at challenging the timing aspect of the approach but the argument that Open Access Orders are self-enforcing and stable. After giving empirical evidence that can support the country’s transformation in the 1960s, the article discusses the stability aspect in greater detail. Especially the intergenerational distribution of wealth and the increasing state debt to be paid by future generation might contribute to the social order’s instability. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Jan-Otmar Hesse, 2015. "On the stability of open access orders: the Federal Republic of Germany since the 1960s," Constitutional Political Economy, Springer, vol. 26(1), pages 87-102, March.
    • Handle: RePEc:kap:copoec:v:26:y:2015:i:1:p:87-102
    DOI: 10.1007/s10602-014-9182-y
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    References listed on IDEAS

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    1. Amartya Sen, 1999. "The Possibility of Social Choice," American Economic Review, American Economic Association, vol. 89(3), pages 349-378, June.
    2. Frick, Joachim R. & Grabka, Markus M., 2009. "Zur Entwicklung der Vermögensungleichheit in Deutschland," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 19(4), pages 577-600.
    3. Timothy W. Guinnane, 2004. "Financial Vergangenheitsbewältigung: The 1953 London Debt Agreement," Working Papers 880, Economic Growth Center, Yale University.
    4. North,Douglass C. & Wallis,John Joseph & Webb,Steven B. & Weingast,Barry R. (ed.), 2013. "In the Shadow of Violence," Cambridge Books, Cambridge University Press, number 9781107014213, September.
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    More about this item

    Keywords

    Economic history; Germany; Institutional change; Social security; Economic policy; German history; N44; K0;
    All these keywords.

    JEL classification:

    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
    • K0 - Law and Economics - - General

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