Origins and Change of the Social Market Economy History and Theoretical Foundations

This edited volume addresses the theoretical and historical foundations of the German Social Market Economy. Written to commemorate the 75^th anniversary of the establishment of the Social Market Economy, chapter contributions discuss the ideas of its theoretical founders—Walter Eucken, Alfred Müller-Armack, Wilhelm Röpke, and Franz Böhm--as well as related influences such as Ordoliberalism, the historical school of economics, and the Catholic social doctrine. In addition, chapters analyze differences and parallels to alternative policy concepts, in particular Keynesianism. Finally, the volume turns toward contemporary discussions of the Social Market Economy in the present political and economic context, specifically its ability to cope with current challenges. Providing rich context for the establishment of Germany’s contemporary economic system, this volume will be of interest to researchers and students of political, social and economic systems, the history of economicthought, and political history.

Introduction.- Origins and Change in the Concept of Social Market Economy.- The end of laissez-faire“ – Keynes and Ordoliberalism.- The end of laissez-faire.- Wilhelm Röpke’s ecological Social Market Economy.- Goetz Briefs’ socially tempered capitalism.- Health Policies in the Social Market Economy.- The Muthesius Circle: Financial Journalism in the 1950s.- Social Market Economy and Human Rights – A Global Perspective.- The ownership concept in the “Socialist” Political Economy.

Jürgen G. Backhaus is emeritus Professor of Public Finance and Fiscal Sociology at Erfurt University, Germany. He is the founding editor of the book series European Heritage in Economics and the Social Sciences as well as the European Journal of Law and Economics. 

Günther Chaloupek is former director of the economic research department of the Austrian Chamber of Labour. He has a Dr. jur from University of Vienna (Austria) and MA in economics from University of Kansas (US). He is co-editor of European Heritage in Economics and the Social Sciences. 

Hans A. Frambach is Professor of Microeconomics and the History of Economic Thought at the Schumpeter School of Business and Economics, University of Wuppertal, Germany. He is co-editor of European Heritage in Economics and the Social Sciences.