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Metaphysical justification for an economic constitution? Franz Böhm and the concept of natural law

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  • Daniel Nientiedt

    (Walter Eucken Institut)

Abstract

The paper analyzes references to the concept of natural law in the work of legal scholar Franz Böhm (1895–1977), one of the founders of German ordoliberalism and a pioneer in working at the intersection of law and economics. Böhm was particularly interested in the economic constitution, the framework of legal rules that shape economic transactions. It is shown that Böhm’s work on this subject relates to natural law in two distinct ways. Firstly, from classical political economy, he adopts the argument that there are patterns in human behavior that allow for the establishment of a self-organizing mechanism that governs economic activity, a social order “bestowed by nature” or “ordo”. Secondly, given the distinction in jurisprudence between legal positivists and natural law theorists, the paper argues that Böhm should be viewed as the latter because he maintains that legal norms need to correspond to justice in order to be valid law. Despite his status as a natural law theorist, Böhm contends that legal systems must not be derived from metaphysical sources.

Suggested Citation

  • Daniel Nientiedt, 2019. "Metaphysical justification for an economic constitution? Franz Böhm and the concept of natural law," Constitutional Political Economy, Springer, vol. 30(1), pages 114-129, March.
    • Handle: RePEc:kap:copoec:v:30:y:2019:i:1:d:10.1007_s10602-019-09275-5
    DOI: 10.1007/s10602-019-09275-5
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    References listed on IDEAS

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    1. Feld, Lars P. & Köhler, Ekkehard A. & Nientiedt, Daniel, 2015. "Ordoliberalism, pragmatism and the eurozone crisis: How the German tradition shaped economic policy in Europe," Freiburg Discussion Papers on Constitutional Economics 15/04, Walter Eucken Institut e.V..
    2. Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
    3. Müller Christian, 2015. "Das Naturrecht in der Wirtschafts- und Sozialethik: Bemerkungen zu einem von Herbert Pribyl und Christian Machek herausgegebenen Tagungsband," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 66(1), pages 411-415, January.
    4. Daniel Nientiedt & Ekkehard A. Köhler, 2016. "Liberalism and democracy — a comparative reading of Eucken and Hayek," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(6), pages 1743-1760.
    5. Herzog, Lisa, 2013. "Inventing the Market: Smith, Hegel, and Political Theory," OUP Catalogue, Oxford University Press, number 9780199674176.
    6. Lars P. Feld & Gebhard Kirchgässner, 2003. "The Role of Direct Democracy in the European Union," CESifo Working Paper Series 1083, CESifo.
    7. Buchanan, James M, 1988. "Contractarian Political Economy and Constitutional Interpretation," American Economic Review, American Economic Association, vol. 78(2), pages 135-139, May.
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    Cited by:

    1. 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.
    2. Daniel Nientiedt, 2021. "Hayek’s treatment of legal positivism," European Journal of Law and Economics, Springer, vol. 51(3), pages 563-576, June.

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    More about this item

    Keywords

    Natural law; Legal positivism; Ordoliberalism; Social market economy;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)

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