Paul D. Aligica/ Paul A. Lewis/ Virgil H. Storr: Austrian Economics and the Bloomington School: An Introduction and Overview

This paper compares and contrasts two schools of political economy: the Austrian School, prominent members of which include Friedrich Hayek and Ludwig von Mises; and the Bloomington School, which was founded by Elinor and Vincent Ostrom. It is argued that the two traditions share a good deal in common: both Continue Reading…

Stefan Kolev/ Nils Goldschmidt/ Jan-Otmar Hesse: Debating liberalism: Walter Eucken, F. A. Hayek and the early history of the Mont Pelerine Society

Walter Eucken is mostly known for his impact on establishing the Social Market Economy in post-war Germany. In this paper we identify how Eucken was highly influential in the formation of the Mont Pèlerin Society (MPS), and how German ordoliberalism left a significant footprint on the early history of the Continue Reading…

Ekkehard A. Köhler/ Lars P. Feld/ Daniel Nientiedt: The “Dark Ages of German Macroeconomics” and Other Alleged Shortfalls in German Economic Thought

Ordoliberalism is often accused as being responsible for Germany’s policy stance during the Eurozone crisis. Ordoliberalism originates from the so-called Freiburg School of Economics, founded by Walter Eucken during the 1930s at the University of Freiburg, which is in fact in Germany. It is however neither true that ordoliberal thought Continue Reading…