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The German Anti-Keynes? On Walter Eucken’S Macroeconomics

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  • Feld, Lars P.
  • Koehler, Ekkehard
  • Nientiedt, Daniel

Abstract

The work of Walter Eucken (1891–1950), founder of German ordoliberalism, is often described as being in direct opposition to that of John Maynard Keynes. Our paper challenges this claim by making two main arguments. First, we show that Eucken supported a proto-Keynesian stimulus program at the height of the Great Depression, the so-called Lautenbach plan of 1931. Second, we analyze his critique of full employment policy, which reveals that Eucken’s approach to solving macroeconomic problems is fundamentally different, if not necessarily contrary to that of Keynes.

Suggested Citation

  • Feld, Lars P. & Koehler, Ekkehard & Nientiedt, Daniel, 2020. "The German Anti-Keynes? On Walter Eucken’S Macroeconomics," OSF Preprints bs3w5_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:bs3w5_v1
    DOI: 10.31219/osf.io/bs3w5_v1
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