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approach to the rules in macroeconomic policy, fiscal consolidation, and interpretation of current account surplus. Given the … impact on the practice of macroeconomic policy in Germany and also at the European level. The analysis is built on the short … applied for interpretation of intellectual distinctions between economists from Germany and other countries in the theoretical …
Persistent link: https://www.econbiz.de/10012232444
In response to the Covid-19 pandemic, governments around the world have provided a massive fiscal and monetary stimulus. While this policy is welcome in the short run, it does not address the underlying problem in the medium and long run. The reason is that the pandemic has not given rise to a...
Persistent link: https://www.econbiz.de/10012651488
of Germany. It is argued that in post-war Europe the German social market economy as designed by Eucken (1952) and Müller …-Armack (1966) has been a core element of growth, welfare, social cohesion and political stability in Germany and Europe as a whole … welfare in Germany and Europe. As the outcome is crumbling social cohesion and growing political instability, a timely exit …
Persistent link: https://www.econbiz.de/10014521939
order of Germany. It is argued that in post-war Europe the German social market economy as designed by Eucken (1952) and … Müller-Armack (1966) has been a core element of growth, welfare, social cohesion and political stability in Germany and …) growth and welfare in Germany and Europe. As the outcome is crumbling social cohesion and growing political instability, a …
Persistent link: https://www.econbiz.de/10011615918
The currency reform on 20 June 1948, together with a comprehensive liberalisation of prices and the implementation of monopoly control, formed the basis for the West German economic miracle. From then on, the market principles formulated by Walter Eucken und implemented by Ludwig Erhard became...
Persistent link: https://www.econbiz.de/10011937800
integration process. We argue that the market orders shaped in postwar Germany and in Margret Thatcher’s United Kingdom have long …
Persistent link: https://www.econbiz.de/10011815831
The word “scapegoat” is defined as “a person made to bear the blame for others,” and similarly, “scapegoatism” refers to “the act or practice of assigning blame or failure to another, as to deflect attention or responsibility away from oneself” (Collins English Dictionary and...
Persistent link: https://www.econbiz.de/10012023362
The paper examines one of the considerations that determines the extent to which policymakers pursue the objectives demanded by constituents. The nature and extent of their ignorance serve to determine the incentives confronted by policymakers to pursue their constituents' demands. The paper...
Persistent link: https://www.econbiz.de/10011904607
ordoliberal thought which has had a strong impact on EU competition policy and law. Outside Germany, ordoliberal thought is often … ordoliberalism after the Second World War. Major developments since then have remained largely unrecognized. This paper sets out the … important insights that have markedly changed some of the basic concepts of the Freiburg School so as to bring ordoliberalism …
Persistent link: https://www.econbiz.de/10010335909
-formation of spontaneous rules of an economic order resulting from the market operations, it is a par exellence liberal concept. On … principles by the political government. This synthesis constitutes ordoliberalism and implies a feedback between the constituted … and spontaneous rules of economic order. …
Persistent link: https://www.econbiz.de/10012232651