Concept
Ordoliberalism
Related concepts (14)
Economic liberalism
Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism.
Corporatism
Corporatism is a collectivist political ideology which advocates the organization of society by corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, on the basis of their common interests. The term is derived from the Latin corpus, or "body". As originally conceived, and as enacted in fascist states in mid-20th century Europe, corporatism was meant to be an alternative to both free market economies and socialist economies.
Social liberalism
Social liberalism (Sozialliberalismus, socioliberalismo, Sociaalliberalisme) is a political philosophy and variety of liberalism that endorses social justice and the expansion of civil and political rights. It is economically based on the social market economy and views the common good as harmonious with the individual's freedom. Social liberals overlap with social democrats in accepting economic intervention more than other liberals; its importance is considered auxiliary compared to social democrats.
Liberal conservatism
Liberal conservatism is a political ideology combining conservative policies with liberal stances, especially on economic issues but also on social and ethical matters, representing a brand of political conservatism strongly influenced by liberalism. The ideology incorporates the classical liberal view of minimal government intervention in the economy, according to which individuals should be free to participate in the market and generate wealth without government interference.
Economic ideology
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions. However, the two are closely interrelated, as underlying economic ideology influences the methodology and theory employed in analysis.
Dirigisme
Dirigisme or dirigism () is an economic doctrine in which the state plays a strong directive (policies) role, contrary to a merely regulatory interventionist role, over a market economy. As an economic doctrine, dirigisme is the opposite of laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures. Dirigiste policies often include indicative planning, state-directed investment, and the use of market instruments (taxes and subsidies) to incentivize market entities to fulfill state economic objectives.
Economic efficiency
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient.
Conservative liberalism
Conservative liberalism, also referred to as right-liberalism, is a variant of liberalism, combining liberal values and policies with conservative stances, or simply representing the right-wing of the liberal movement. In the case of modern conservative liberalism, scholars sometimes see it as a more positive and less radical variant of classical liberalism; it is also referred to as an individual tradition that distinguishes it from classical liberalism and social liberalism.
Social market economy
The social market economy (SOME; soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, is a socioeconomic model combining a free-market capitalist economic system alongside 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.
Third Way
The Third Way is a centrist political position that attempts to reconcile right-wing and left-wing politics by advocating a varying synthesis of centre-right economic policies with centre-left social policies. The Third Way was born from a re-evaluation of political policies within various centre to centre-left progressive movements in the 1980s in response to doubt regarding the economic viability of the state and the perceived overuse of economic interventionist policies that had previously been popularised by Keynesianism, but which at that time contrasted with the rise of popularity for neoliberalism and the New Right starting in the late 1970s and throughout the 1980s.