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The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism

The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism
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Year:    2019

Author:    Dold, Malte, Krieger, Tim

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 139 (2019), Iss. 2-4 : pp. 243–258

Abstract

In the face of the “new” crisis of liberalism, our paper follows the spirit of Walter Lippmann’s The Good Society and argues for a renewal of (ordo)‌liberal thinking. Similar to Lippmann, we argue that our current liberal economic order is unfit to deal with fundamental social asymmetries. The benefits of economic integration are distributed unevenly with urban economic and political elites as main beneficiaries and supporters of the current order, while neglecting less-skilled, rural workers. In this paper, we argue for a contemporary ordoliberalism that takes up this distributional challenge. In spite of recurrent criticism of its value-laden nature, we argue that the normativity of ordoliberalism is actually an asset in the current debate on populism.

Journal Article Details

Publisher Name:    Global Science Press

Language:    English

DOI:    https://doi.org/10.3790/schm.139.2-4.243

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 139 (2019), Iss. 2-4 : pp. 243–258

Published online:    2019-04

AMS Subject Headings:    Duncker & Humblot

Copyright:    COPYRIGHT: © Global Science Press

Pages:    16

Keywords:    B25 B31 B41

Author Details

Dold, Malte

Krieger, Tim

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Section Title Page Action Price
The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism 243
By Malte Dold and Tim Krieger 243
Abstract 243
1. The “New” Crisis of the Liberal Order 243
2. The Liberal Neglect of a Fundamental Societal Asymmetry 245
3. What Can Today’s Liberals Learn from Walter Lippmann? 247
4. A Plea for a Contemporary Ordoliberalism 249
4.1 A Needed Update 250
4.2 Policy Proposals 251
5. Concluding Remarks: The Merits of a PPE Perspective 243
References 243