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Governing Dynamics and Superfragility: Liberal Political Economists as Order Guardians

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  • Kolev, Stefan

Abstract

This paper pursues two goals. First, to reflect on how historical Ordnungsökonomik (Economics of Order) illuminates the politico-economic crises in today's Western democracies via the increasing parallels to the fragilities and fractures of the 1930s. Second, based on these historical inspirations, to come closer to a modern Ordnungsökonomik targeted specifically at today's crises. The three-step approach consists of an anamnesis ("crisis burger"), a diagnosis ("anxiety from over-dynamics"), and a therapy ("fixed points towards order security"). The paper revisits the role of liberal political economists as order guardians amid what the paper calls superfragility, a context in which citizens radically lose trust and unsubscribe from the order, making the trust-enhancing role of liberal political economists existential for the order.

Suggested Citation

  • Kolev, Stefan, 2024. "Governing Dynamics and Superfragility: Liberal Political Economists as Order Guardians," LEF PAPERS on Economy and Society 1-24, Ludwig-Erhard-Forum für Wirtschaft und Gesellschaft (LEF), Berlin.
    • Handle: RePEc:zbw:lefpes:301002
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    File URL: https://www.econstor.eu/bitstream/10419/301002/1/LEF-Papers_1-24.pdf
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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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