Suchergebnisse

AbstractWalter Eucken (1891–1950), the founder of German ordoliberalism, is best known for his work on economic policy. According to the orthodox view, giving policy advice involves not only technical expertise but also judgments of value. Against this background, the present article investigates Eucken's stance on the principle of value freedom, that is, the claim that positive and normative statements should be kept separate. While Eucken defended the notion of scientific objectivity in his earlier writings, he later distanced himself from the principle of value freedom as formulated by Max Weber. This article maintains that a closer reading of Eucken and Weber reveals the similarity of their positions. Thus, Eucken should be seen as a proponent of the principle of value freedom. At the same time, his treatment of the subject suggests that his (implicit) model of policymaking is incomplete because it does not specify the ultimate source of value.

AbstractThis is the introduction to the special issue "The Freiburg School and the Virginia School: The Research Programs of Ordnungsökonomik and Constitutional Political Economy". It provides opening remarks and a brief overview of the individual articles.

What is the appropriate role of the state in economic policy-making? This paper shows that Friedrich Hayek, who is often considered a proponent of laissez-faire liberalism, offers three different answers to this problem. First, Hayek argues that the state should provide a legal framework for competitive markets. Second, he proposes to employ the rule of law criteria - generality, equality, and certainty - to distinguish permissible from non-permissible state interventions. Third, he rejects deliberate legislation and moves closer to the Misean idea of a minimal state. The paper considers these answers in light of Hayek's analysis of the knowledge problem. We suggest that a Hayekian approach to economic policy-making should focus on improving the framework of general rules that guide individual behavior, thereby enabling spontaneous ordering processes and reducing the epistemological burden placed on policy-makers.