In his latest paper, NOUS member Stefan Kolev contextualizes the early political economy of Austrian economist and social philosopher F. A. Hayek in the intellectual milieu of German ordoliberalism. He argues that the particular urgency during the 1930s and 1940s to preserve and stabilize the disintegrating orders of economy and society was a crucial driver behind the numerous parallelisms between Hayek and the ordoliberals. Their political economies are reconstructed by emphasizing the notion of the framework as an economic constitution of general and stable rules, with the overarching goal to render the orders in the postwar world more robust. In a nutshell, the central configuration is that liberty can thrive sustainably only after such a framework has been established. Hayek’s “learning ordoliberalism” emerged during the socialist calculation debates when knowledge became the center of his œuvre, so that he aimed at identifying rules which could enhance the use of knowledge in society and thus societal learning.
The full paper is available here.