OrdoliberalismOrdoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential. Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder. The term "ordoliberalism" (German: Ordoliberalismus) was coined in 1950 by and refers to the academic journal ORDO.
Social market economyThe social market economy (SOME; German: soziale Marktwirtschaft, German pronunciation:), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, is a socioeconomic model and ideology combining a free-market capitalist economic system with social policies and enough regulation to establish both fair competition within the market and generally a welfare state. It is sometimes classified as a regulated market economy.
Economic systemAn economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within an economy. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. An economic system is a type of social system. The mode of production is a related concept.
Franz BöhmFranz Böhm (16 February 1895 – 26 September 1977) was a German politician, lawyer, and economist. Early lifeFranz Böhm was born on 16 February 1895 in Konstanz. He moved along with his family in 1898 to Karlsruhe as his father was appointed the Minister of Cultural Affairs for the Grand Duke of Baden.
Academic journalThere are different types of peer-reviewed research journals; these specific publications are about food science.An academic journal or scholarly journal is a periodical publication in which scholarship relating to a particular academic discipline is published. They serve as permanent and transparent forums for the dissemination, scrutiny, and discussion of research.
Walter EuckenWalter Eucken (German: [ˈɔʏkn̩]; 17 January 1891 – 20 March 1950) was a German economist of the Freiburg school and father of ordoliberalism. Ordoliberalism was based on the concept of social market economy balancing free markets with regulatory oversight. The Walter Eucken Institut was founded four years after his death and his ideas influenced West Germany’s economic policy.
Western EuropeWestern Europe is the western region of Europe. The region's extent varies depending on context. The concept of "the West" appeared in Europe in juxtaposition to "the East" and originally applied to the Western half of the ancient , the Latin West of the Roman Empire, and "Western Christendom".InterdisciplinarityInterdisciplinarity, also known as interdisciplinary studies, is the combination of multiple academic disciplines into one activity (e.g., a research project).
Cold WarNATO and Warsaw Pact states in 1988Duration44 years and 9 monthsPart of the post-World War II eraLocationGlobalThe Cold War was a period of international geopolitical rivalry between the United States (USA) and the Soviet Union (USSR) and their respective allies, the capitalistWestern Bloc and communistEastern Bloc. It began in the aftermath of the Second World War and ended with the dissolution of the Soviet Union in 1991.German languageGerman (Deutsch, pronounced [dɔɪ̯tʃ] ) is a West Germanic language in the Indo-European language family, mainly spoken in Western and Central Europe. It is the majority and official (or co-official) language in Germany, Austria, Switzerland, and Liechtenstein. It is also an official language of Luxembourg, Belgium and the Italian autonomous province of South Tyrol, French autonomous region of Alsace and as well as a recognised national language in Namibia.
Northern EuropeThe northern region of Europe has several definitions. A restrictive definition may describe northern Europe as being roughly north of the southern coast of the Baltic Sea, which is about 54°N, or may be based on other geographical factors such as climate and ecology.
Peer reviewPeer review is the evaluation of work by one or more people with similar competencies as the producers of the work (peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field. Peer review methods are used to maintain quality standards, improve performance, and provide credibility. In academia, scholarly peer review is typically used to determine an academic paper's suitability for publication.*As an Amazon Associate I earn from qualifying purchases.