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Germany after World War II: Ordoliberalism, the Social Market Economy and Keynesianism


  • Harald Hagemann


The post-1945 development of economics in Germany is characterized by important similarities as well as by some considerable differences compared to other European countries. The strong growth of international trade was accompanied by an increasing internationalization of economics that was simultaneously for a greater part a process of Americanization. The historically unmatched growth from 1950 to the early 1970s was associated by the growth of economics as an academic discipline and an increasing "economization" of public life. German economics also ran through the rise and fall of Keynesianism as well as a switch to monetarist ideas and supply-side policies in the mid- 1970s after the first oil price shock. On the other hand, some special factors exist which distinguish the German case from the development of economics elsewhere.The paper illustrates the relationship between the political and the economic sphere in Germany after WWII

Suggested Citation

  • Harald Hagemann, 2013. "Germany after World War II: Ordoliberalism, the Social Market Economy and Keynesianism," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2013(1), pages 37-51.
  • Handle: RePEc:fan:spespe:v:html10.3280/spe2013-001003

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    References listed on IDEAS

    1. Hagemann, Harald, 2005. "Dismissal, Expulsion, and Emigration of German-Speaking Economists after 1933," Journal of the History of Economic Thought, Cambridge University Press, vol. 27(04), pages 405-420, December.
    2. Bertram Schefold, 2004. "Wissenschaft als Gegengabe - Neugründung und Aktivitäten des Theoretischen Ausschusses im Verein für Socialpolitik von 1949 –1973," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 124(4), pages 579-608.
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    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other


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