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Market Democracy, Rising Populism, and Contemporary Ordoliberalism

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  • Malte Dold
  • Tim Krieger

Abstract

Populist movements increasingly challenge liberal Western market democracies. Populism can be explained only in part by phenomena like globalization and digitization producing winners and losers in economic terms. Growing feelings of alienation from the market-democratic system and the perceived loss of autonomy within the political system contribute to rising populism as well. In this chapter, we ask whether elements of public deliberation may be a means to reasonably responding to the populist challenge by strengthening citizen sovereignty in addition to consumer sovereignty. Ordoliberalism, as a specific form of liberalism that aims at achieving both a ‘functioning and humane order’ within a system of ‘interdependent orders’, is particularly apt to embrace the idea of public deliberation if it is rules-based.

Suggested Citation

  • Malte Dold & Tim Krieger, 2024. "Market Democracy, Rising Populism, and Contemporary Ordoliberalism," CESifo Working Paper Series 10888, CESifo.
    • Handle: RePEc:ces:ceswps:_10888
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    References listed on IDEAS

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    More about this item

    Keywords

    populism; ordoliberalism; democracy; deliberation;
    All these keywords.

    JEL classification:

    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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