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Karl Schiller: The Triumph and Tragedy of a German Social Democratic Economist

Author

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  • Reinhard Neck

    (University of Klagenfurt)

Abstract

This paper gives an introduction to the life and academic achievements as well as the political views and successes and failures of the professor of economics and social democratic politician Karl Schiller. It illustrates his endeavors to integrate the market orientation of the Freiburg School with Keynesianism and his conception of economic policy making built upon these theoretical foundations. Schiller used insights from Keynesianism to successfully combat the recession in Germany in 1966 but failed when it came to use this approach during the inflationary period of the 1970s. He contributed to making the policy stance of the Social Democratic Party of Germany more market friendly but failed due to the recurrence of Marxist ideology in the party, among other reasons.

Suggested Citation

  • Reinhard Neck, 2025. "Karl Schiller: The Triumph and Tragedy of a German Social Democratic Economist," The European Heritage in Economics and the Social Sciences,, Springer.
    • Handle: RePEc:spr:euhchp:978-3-032-00498-7_4
    DOI: 10.1007/978-3-032-00498-7_4
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    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform

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