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The Philosophy of Social Market Economy: Michel Foucault's Analysis of Ordoliberalism

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  • Goldschmidt, Nils
  • Rauchenschwandtner, Hermann

Abstract

Michel Foucault's lectures at the Collège de France in 1978-1979 centered on the analysis of power with regard to liberalism. Foucault especially focused on German ordoliberalism and its specific governmentality. Although Foucault's review of the ordoliberal texts, programs, and books is very faithful, there are some occasional "schematic" simplifications. Our paper will evaluate Foucault's constitution of an ordoliberal "archive", though more emphasis will be put on the general importance of the phenomenological orientation in Walter Eucken's work. Hence, three tasks will guide our paper: first, an analysis of Foucault's position; second, the phenomenological foundation of the ordoliberal discourse compared to the 18th century liberal discourse, i.e. the way in which Walter Eucken received Husserl. Third, our paper shall raise the subject of the mutual historical-epistemological complementation of philosophy and economics by taking Foucault's analysis as the starting point. Furthermore, the consequences of a phenomenological, "eidetic" order of the economy will be discussed, focusing mainly on the expansion of competition in social domains.

Suggested Citation

  • Goldschmidt, Nils & Rauchenschwandtner, Hermann, 2007. "The Philosophy of Social Market Economy: Michel Foucault's Analysis of Ordoliberalism," Freiburg Discussion Papers on Constitutional Economics 07/4, Walter Eucken Institut e.V..
    • Handle: RePEc:zbw:aluord:074
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    References listed on IDEAS

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    1. Viktor Vanberg, 2007. "Corporate social responsibility and the ‘game of catallaxy’: the perspective of constitutional economics," Constitutional Political Economy, Springer, vol. 18(3), pages 199-222, September.
    2. Pelikan, Pavel, 2006. "Markets vs. Government when Rationality is Unequally Bounded: Some Consequences of Cognitive Inequalities for Theory and Policy," Freiburg Discussion Papers on Constitutional Economics 06/5, Walter Eucken Institut e.V..
    3. Brandi, Clara & Wohlgemuth, Michael, 2006. "Strategies of Flexible Integration and Enlargement of the European Union: a Club-theoretical and Constitutional Economics Perspective," Freiburg Discussion Papers on Constitutional Economics 06/7, Walter Eucken Institut e.V..
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    1. Strat Vasile Alecsandru & Stefan Cristian, 2017. "The growth poles and the lagging regions of Romania – a county level approach for 2015 –," Management & Marketing, Sciendo, vol. 12(3), pages 456-473, September.
    2. Nils Goldschmidt, 2013. "Walter Eucken’s place in the history of ideas," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(2), pages 127-147, June.
    3. Strat Vasile Alecsandru & Ștefan Cristian, 2017. "Can the social market economy be a viable solution for a future sustainable development of the Romanian economy?: -Quantitative evidence-," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 11(1), pages 970-981, July.
    4. Rainer Klump & Manuel Wörsdörfer, 2011. "On the affiliation of phenomenology and ordoliberalism: Links between Edmund Husserl, Rudolf and Walter Eucken," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 18(4), pages 551-578, October.

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