본문 바로가기
KERD
논문KCI 등재

German Ordoliberalism as Rule Setter for the Euro Crisis

백훈|김종헌
한국질서경제학회 (Korea Ordo Economics Association)|2017.12|질서경제저널 (Ordo Economics Journal)|제20권 제4호|pp. 1-37|DOI http://dx.doi.org/10.20436/OEJ.20.4.001

1

조회

0

다운로드

1

인용

0

참고문헌

키워드

유로 위기Euro crisis사회적 시장경제Social Market EconomyOrdoliberalism질서자유주의오이켄Eucken에르하르트Erhard

초록

While the Korean economy and the German economy have some historical similarities, their economic outcomes are different. The phenomenal performance of the German economy has long drawn attention of many Korean academics to ordoliberalism and the social market economy of Germany. This paper is to provide an explanation for ordoliberalism and to explain which roles ordoliberalism of German government play in dealing with the euro crisis. The Freibrug School’s Walter Eucken suggests that the market order should be based on a well-functioning price mechanism and perfect competition. The role of the state is to be limited to guarantee them. The social market economy combines the ordoliberal ideas and the necessities of social goals. The Freiburg and social market economic theorists disagree on their views about the completeness of the market order and the role of state in the social policy. Alfred Müller-Armack implemented the ideas of the social market economy into Germany’s economic policy and Erhard adopted it to prepare eoconomic programs for Germany. The euro crisis still threatens stability of euro and the future of the EU. The crisis is caused by excessive imbalances of derogatorily so-called GIPSI countries suffering from twin deficits. During the crisis, the German economy has drawn the attention of others for its prudence and the mandates imposed on other members of the euro area. German economic policies show ordoliberal traditions in many aspects: they postulate sound public finance, the constitutional approach, and the liability principle. The eurozone has been divided along the ideological lines in how to dealing with the euro crisis. Five countries are selected from both sides to compare numerically their ordoliberal attributes and the outcomes.

Abstract

While the Korean economy and the German economy have some historical similarities, their economic outcomes are different. The phenomenal performance of the German economy has long drawn attention of many Korean academics to ordoliberalism and the social market economy of Germany. This paper is to provide an explanation for ordoliberalism and to explain which roles ordoliberalism of German government play in dealing with the euro crisis. The Freibrug School’s Walter Eucken suggests that the market order should be based on a well-functioning price mechanism and perfect competition. The role of the state is to be limited to guarantee them. The social market economy combines the ordoliberal ideas and the necessities of social goals. The Freiburg and social market economic theorists disagree on their views about the completeness of the market order and the role of state in the social policy. Alfred Müller-Armack implemented the ideas of the social market economy into Germany’s economic policy and Erhard adopted it to prepare eoconomic programs for Germany. The euro crisis still threatens stability of euro and the future of the EU. The crisis is caused by excessive imbalances of derogatorily so-called GIPSI countries suffering from twin deficits. During the crisis, the German economy has drawn the attention of others for its prudence and the mandates imposed on other members of the euro area. German economic policies show ordoliberal traditions in many aspects: they postulate sound public finance, the constitutional approach, and the liability principle. The eurozone has been divided along the ideological lines in how to dealing with the euro crisis. Five countries are selected from both sides to compare numerically their ordoliberal attributes and the outcomes.

참고문헌 (61)

  1. Adams, I., "Political ideology today" (2001), Manchester University Press
  2. Baldwin, R., "The Eurozone Crisis: a Consensus View of the Causes and a Few Possible Solutions", pp.18~62 (2015), CEPR Press
  3. Bank-of-Greece, "Overview of the Greek Financial System", Bank of Greece, ~ (2017)
  4. Becker, H. P., "Die soziale Frage im Neoliberalismus: Analyse und Kritik" (1965)
  5. Berghahn, V, "Reflections on Werner Bonefeld’s ‘Freedom and the Strong State: On German Ordoliberalism’ and the Continuing Importance of the Ideas of Ordoliberalism to Understand Germany’s (Contested) Role in Resolving the Eurozone Crisis", New Political Economy, 18(5), pp.768~778 (2013)
  6. Bertelsmann-Stiftung, "Index of Modern Social Market Economies", ~ (2012)
  7. Bundestag, D., "Fragen an die deutsche Geschichte: Ideen, Kräfte, Entscheidungen:Von 1800 bis zur Gegenwart" (1990), Deutscher Bundestag
  8. CDU, "Das Ahlener Programm vom 3. In. der britischen Zone: Februar", ~ (1947)
  9. CDU, "Determinanten der westdeutschen Restauration", pp.49~ (1975)
  10. 최태욱, "진보적 자유주의 구현을 위한 정치제도 조건: 합의제 민주주의", 한국정치연구, 19(3), pp.217~238 (2010), 사회과학연구원 한국정치연구소
  11. Cukierman, A., "Measuring the independence of central banks and its effect on policy outcomes", The World Bank Economic Review, 6(3), pp.353~398 (1992)
  12. Sebastian Dullien and Ulrike Guérot, "The long shadow of ordoliberalism: Germany’s approach to the euro crisis", pp.2012, Dullien, S.
  13. Erhard, L., "Aufgaben und Grenzen zentraler Wirtschaftsverwaltungsstellen Bd2", pp.1~2 (1947), Der Wirtschaft Spiegel
  14. Erhard, L., "Der Weg in die Zukunft, Rede vor der, 14", ~ (1948)
  15. Erhard, L, "Marktwirtschaft im Streit der Meinungen, Rede vor dem, 2", 134~151 (1948)
  16. Erhard, L., "Gedanken aus fünf Jahrzehnten", pp.684~704 (1988), Econ
  17. Erhard, L., "Grundtexte zur Sozialen Marktwirtschaft", pp.15~18 (1981)
  18. Eucken, W., "Grundsätze der Wirtschaftspolitik" (2004), utb GmbH
  19. European-Commsion, "COMMUNICATION FROM THE COMMISSION The Fiscal Compact", Taking Stock, ~ (2017)
  20. Gerber, D.J., "Constitutionalizing the economy: German neo-liberalism, competition law and the “new” Europe", The American Journal of Comparative Law, 42(1), pp.25~84 (1994)
  21. Glossner, C.L., "Political Communication and Public Reception of the Social Market Economy after World War Two" (2010), Tauris Academic Studies
  22. Glossner, C.L., "The formation and implementation of the Social Market Economy by Alfred Müller-Armack and Ludwig Erhard: incipiency and actuality" (2011), Konrad-Adenauer-Stiftung eV
  23. Nils Goldschmidt, "Social Market Economy: origins, meanings and interpretations", Constitutional Political Economy, 19(3), pp.261~276 (2008), Springer Nature[DOI]
  24. Grossekettler, H., "Entstehungsgeschichte und Entwicklungsperspektiven des Ordoliberalismus nach", pp.50~ (1997)
  25. Hamann, T.H., "Neoliberalism, governmentality, and ethics", Foucault studies, pp.37~59 (2009)
  26. Harjuniemi, T., "Mediating the German Ideology: Ordoliberal Framing in European Press Coverage of the Eurozone Crisis", Journal of Contemporary European Studies, 24(3), pp.414~430 (2016)
  27. Hillebrand, R., "Germany and its Eurozone Crisis Policy: The Impact of the Country’s Ordoliberal Heritage", German Politics and Society, 33(1), pp.6~24 (2015)
  28. Horváth, J., "The Eurozone Crisis and the Future of Europe", pp.40~59 (2014), Springer
  29. Hwang, J, "Ordoliberalism, German social market economy" (2011), Soong-Sil University Publication
  30. Hwang, S., "From State-Leading-Economy Order to Exchange-Economy Order:Research about Orodoliberal Economy Reform in Western Germany after WWⅡ", Journal of International Area Studies, 2(1), pp.115~147 (1998)
  31. 강유덕, "유럽재정위기에 대한 독일식 해법 형성의 배경과 전망", EU연구, (33), pp.129~166 (2013), EU연구소
  32. 이지용, "유로존 위기, 프랑스・독일의 갈등과 원인", EU연구, (32), pp.103~128 (2012), EU연구소
  33. Lee, K., "West Germany’s Ordoliberalism: Eucken and Röpke" (2007), Guiparang
  34. 이태화, "하이에크의 자유주의 경제질서에 관한 연구", 전문경영인연구, 12(2), pp.197~216 (2009), 한국전문경영인학회
  35. Mączyńska, E, "Liberalizm, neoliberalizm i ordoliberalizm", ekonomista, 2, pp.221~247 (2014)
  36. Mirowski, P., "The Road from Mont Pèlerin: The Making of the Neoliberal Thought Collective" (2009), Harvard University Press
  37. Müller-Armack, A, "Studien zur Sozialen Marktwirtschaft", pp.267~291 (1960)
  38. Müller-Armack, A., "The Social Market Economy as an Economic and Social order", Review of Social Economy, 36(3), pp.325~331 (1978)
  39. Müller-Armack, A., "Genealogie der sozialen Marktwirtschaft: Frühschriften und weiterführende Konzepte (Vol. 3)" (1981), P. Haupt
  40. Nedergaard, P., "‘As I Drifted on a River I Could Not Control’:The Unintended Ordoliberal Consequences of the Eurozone Crisis", Journal of Common Market Studies, 5 (2015)
  41. Oliver Jr, H. M., "German neoliberalism", The Quarterly Journal of Economics, 74(1), pp.117~149 (1960)
  42. 백훈, "Ordo-Liberalism and New Institutionalism in Comparative Perspective", 질서경제저널, 18(4), pp.1~17 (2015), 한국질서경제학회[DOI]
  43. 백훈, "The Influences of Ordo-liberalism in the EU’s Economic and Monetary Policy", 질서경제저널, 19(4), pp.1~22 (2016), 한국질서경제학회[DOI]
  44. 백훈, "Institutionalization of Ordoliberalism in Germany’s Economic Policy", 질서경제저널, 20(4), pp.59~78 (2017), 한국질서경제학회[DOI]
  45. Pohlmann, C, "Germany’s Role in the EU debt crisis: A leader by example or main culprit with resepct to structural imbalances in the Eurozone?", Paper presented at the Talk at European Studies Experts’ Seminar (2012), KIEP
  46. Polillo, S., "Globalization pressures and the state: the worldwide spread of central bank independence", American Journal of Sociology, 110(6), pp.1764~1802 (2005)
  47. Pühringer, S., "Think Tank networks of German neoliberalism. Power structures in economics and economic policies in post-war Germany", ~ (2016)
  48. Sally, R., "Ordoliberalism and the social market: Classical political economy from Germany", New Political Economy, 1(2), pp.233~257 (1996)
  49. Sauernheimer, K., "The Eurozone Crisis and the Future of Europe", pp.83~105 (2014), Springer
  50. Schäfer, D., "A banking union of ideas? The impact of ordoliberalism and the vicious circle on the EU banking union", JCMS: Journal of Common Market Studies, 54(4), pp.961~980 (2016)
  51. Schäuble, W., "‘Rede von Dr. Wolfgang Schäuble, Bundesminister der Finanzen, beim “Wirtschaftspolitischen Frühstück” der IHK Berlin’ in", ~ (2014)
  52. Selznick, P., "Dworkin’s Unfinished Task", California Law Review, 77(3), pp.505~513 (1989)
  53. 심지홍, "사회적 시장경제: 사회정책으로서의 경제정책", 경상논총, 34(4), pp.141~164 (2016), 한독경상학회[DOI]
  54. Godesberg Program of the SPD and the politics of Korea, "Shin, J.", FES, ~ (2015)
  55. Stein, J.L., "Stochastic Optimal Control and the US Financial Debt Crisis", pp.133~154 (2012), Springer
  56. Suntum, U. V., "Center of Applied Economic Research Münster (CAWM)" (2011), University of Münster
  57. Vanberg, V. J., "The Freiburg School: Walter Eucken and Ordoliberalism", ~ (2004)
  58. Vranceanu, R., "The Eurozone Crisis and the Future of Europe", pp.60~82 (2014), Springer
  59. Young, B., "German ordoliberalism as agenda setter for the euro crisis: Myth Trumps reality", Journal of Contemporary European Studies, 22(3), pp.276~287 (2014)
  60. Young, B., "The Eurozone Crisis and the Future of Europe", pp.126~137 (2014), Springer
  61. Zinn, K. G., "Entwicklung und Politik der bundesdeutschen Wirtschaftsordnung" (1996), Youjin

관련 논문AI추천

The Influences of Ordo-liberalism in the EU’s Economic and Monetary Policy백훈한국질서경제학회 · 질서경제저널2016 · 제19권 제4호Ordo-Liberalism and New Institutionalism in Comparative Perspective백훈한국질서경제학회 · 질서경제저널2015 · 제18권 제4호German Ordoliberalism in Policy Decision Making: A Comparison of Germany, the U.S. and Korea백훈한국질서경제학회 · 질서경제저널2024 · 제27권 제4호Institutionalization of Ordoliberalism in Germany’s Economic Policy백훈한국질서경제학회 · 질서경제저널2017 · 제20권 제4호A Case Study of Economic Order in Korea: Any Evidence of Ordunungspolitik?백훈한국질서경제학회 · 질서경제저널2018 · 제21권 제4호Ordoliberalism in the German Financial System and the Financial Crisis: A Comparison to the U.S.백훈, 백승헌한국질서경제학회 · 질서경제저널2021 · 제24권 제2호

이 간행물의 다른 논문 (8건)

International Orientation and Performance of Small and Medium-Sized Enterprises김강식pp. 39-58Institutionalization of Ordoliberalism in Germany’s Economic Policy백훈pp. 59-78자기효능감이 보상만족과 조직몰입에 미치는 영향백유성pp. 79-96인도 도시화와 경제성장 간의 상관관계 분석조충제, 이순철pp. 97-120우리나라 수도권 첨단기업의 입지 결정 요인이연희pp. 121-137
원문 보기