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Theory and practice of the Ordnungspolitik in the social market economy in Germany

русская версия

Опубликовано на портале: 08-07-2017
TERRA ECONOMICUS. 2017.  Т. 15. № 2. С. 57-75. 
The first post-war decades for West Germany were marked by a rapid economic recovery, which, despite the devastating catastrophe of the Second World War and the ensuing split of the state, quickly returned the country to the number of highly developed industrial nations of the world. The monetary and economic reforms carried out in 1948 made it possible not only to lay the foundations of monetary and financial stability, to increase incentives for the growth of entrepreneurial activity and labor productivity, but also to create conditions for carrying out the economic policy (Ordnungspolitik) of the Social market economy. Based on the idea of building a free, efficient and at the same time socially fair market system, the concept of a Social market economy succeeded in filling the institutional vacuum of the post-war period, gaining wide recognition of German voters and becoming the fundamental constituent element of the social and economic system of Germany. Thanks to the high GDP growth rates achieved in the 1950s and 1960s, the Western Germans were able to quickly overcome post-war disruption, cope with unemployment, substantially raise the standard of living of broad sections of the population and ensure a high level of economic, social and political stability in the long term.The authors analyze the formation of the ideational foundations of the Social market economy in Germany - a concept which theoretical framework is based on various streams of socio-economic and legal thought. First, we will draw the attention on the fundamental principles of German ordoliberal economic thought, principles that directly influenced the formation of the doctrine of a new social and economic system in post-war West Germany. After that, we will highlight the most important aspects that define the social foundation of a Social market economy - the concept of a policy of order in the first decades of the existence of the Federal Republic of Germany. Then we will transfer these reflections to the modern theory of order in order to determine the place and role of social policy in the current socio-economic system of the Federal Republic. In conclusion, some propositions concerning the importance of the policy of order in the structure of modern economic science will be formulated.
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