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Dold, MKrieger, T (2019). The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism. Journal of Contextual Economics – Schmollers Jahrbuch, 139(2-4), 243-258. https://doi.org/10.3790/schm.139.2-4.243
Dold, Malte Krieger, TimDold, Malte Krieger, Tim (2019). "The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism" Journal of Contextual Economics – Schmollers Jahrbuch, vol. 139no. 2-4, 2019 pp. 243-258. https://doi.org/10.3790/schm.139.2-4.243
Dold, MKrieger, T (2019). The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism. Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 139 (Issue 2-4), pp 243-258. https://doi.org/10.3790/schm.139.2-4.243

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The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism

Dold, Malte | Krieger, Tim

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 139 (2019), Iss. 2-4 : pp. 243–258

4 Citations (CrossRef)

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Article Details

Author Details

Dold, Malte, Economics Department, Pomona College, 425 N. College Way, Claremont, CA 91711, USA.

Krieger, Tim, Faculty of Economics and Behavioral Sciences, University of Freiburg, Wilhelmstraße 1b, 79085 Freiburg, Germany.

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    https://doi.org/10.1080/00346764.2021.1957141 [Citations: 1]

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Abstract

In the face of the “new” crisis of liberalism, our paper follows the spirit of Walter Lippmann’s The Good Society and argues for a renewal of (ordo)‌liberal thinking. Similar to Lippmann, we argue that our current liberal economic order is unfit to deal with fundamental social asymmetries. The benefits of economic integration are distributed unevenly with urban economic and political elites as main beneficiaries and supporters of the current order, while neglecting less-skilled, rural workers. In this paper, we argue for a contemporary ordoliberalism that takes up this distributional challenge. In spite of recurrent criticism of its value-laden nature, we argue that the normativity of ordoliberalism is actually an asset in the current debate on populism.