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| History of economics Ordoliberalism |
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| Name | Walter Eucken |
| Birth | January 17, 1891 |
| Death | March 20, 1950 (aged 59) |
| Nationality | German Empire |
| Field | Macroeconomics |
| Contributions | Social market economy |
Walter Eucken (January 17, 1891 – March 20, 1950) was a German economist and father of ordoliberalism. His name is closely linked with the development of the "social market economy".
Life
Walter Eucken was born in Jena, Thuringia. His father was the philosopher Rudolf Eucken, who won the 1908 Nobel Prize in Literature.
At first more interested in history, Walter Eucken chose to study economics in Kiel, Jena and Bonn. He graduated in 1913, shortly before he had to serve as officer at the fronts of World War I. In 1921, Eucken got his first professorship in Berlin. In 1927 he moved to Freiburg, where he was professor of economics until his death. During the Nazi period, Eucken was associated to the resistance movement (Freiburg Bonhoeffer Circle).
In 1954, four years after Eucken's death, a group of friends and former students founded the Walter Eucken Institut. Its president is James M. Buchanan since 2004.
Theory
Eucken's ordoliberalism, which is the German variant of neoliberalism, claims that the state has the task to provide the political framework for economic freedom. The state should form an economical order instead of directing economical processes.
The idea of ordoliberalism was introduced for the first time in 1937 in Ordnung der Wirtschaft, a periodical published by Walter Eucken, Franz Böhm and Hans Großmann-Doerth. It was then further developed in ORDO, a German scholarly journal first published by Walter Eucken and Franz Böhm in 1948.
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- This page was last modified on 22 November 2008, at 11:47.
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