Wednesday, September 19, 2012

One Thing I Think I Learned Today

"Ordoliberalism," which developed in Germany in the 1950s, constitutes an important and interesting precursor to the New Institutional Economics (as represented by the likes of Coase, North, and Williamson), and offers a distinctive challenge to Austrian-style libertarianism  and other decidedly anti-government forms of neoliberalism/conservatism.

When Peter Grossman and I get around to a third edition of our Law & Economics textbook, I think I'll have to add something about Ordoliberalism and the German Institutional School (a.k.a., the Freiberg School) that founded it. In the meantime, this paper is recommended: Gerhard Schnyder and Mathias Siems, "The Ordoliberal Variety of Neoliberalism," in S. Konzelmann and M. Fovargue-Davies, eds, The Faces of Liberal Capitalism: Banking Systems in Crisis (London: Routledge 2012), pp. 250-268.

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