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The Proper Scope of Government Viewed from an Ordoliberal Perspective: The Example of Competition Policy

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  • Wernhard Möschel

Abstract

The paper focuses on competition policy, which is at the center of ordoliberal thinking. Important characteristics are the emphasis on individual freedom, from which the goal of economic efficiency is merely derived; the strong role for the state in the preservation of the prerequisites of competition, combined with a reserve towards intervention by government in market prices; the rule of law rather than discretionary decisions; and the embedding in the economic order of a free and open society. Other views (impossibility of competition, uselessness of competition law, selective intervention) are contrasted in order to explain these characteristics.

Suggested Citation

  • Wernhard Möschel, 2001. "The Proper Scope of Government Viewed from an Ordoliberal Perspective: The Example of Competition Policy," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(1), pages 1-3, March.
  • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200103)157:1_3:tpsogv_2.0.tx_2-u
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    Cited by:

    1. Oliver Budzinski, 2009. "Modern Industrial Economics and Competition Policy: Open Problems and Possible Limits," Working Papers 93/09, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.

    More about this item

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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