Jump to ContentJump to Main Navigation
Freedom with ResponsibilityThe Social Market Economy in Germany 1918-1963$
Users without a subscription are not able to see the full content.

A. J. Nicholls

Print publication date: 2000

Print ISBN-13: 9780198208525

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198208525.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 05 December 2019

Neo-liberalism in the Immediate Post-war Period

Neo-liberalism in the Immediate Post-war Period

Chapter:
(p.136) 6 Neo-liberalism in the Immediate Post-war Period
Source:
Freedom with Responsibility
Author(s):

A. J. Nicholls

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198208525.003.0008

This chapter takes an account of the efforts to establish neo-liberalism in post-war Germany. Businessmen set up a branch of the old German Democratic Party in Munster and contacted Miiller-Armack to discuss efforts needed to stabilize the currency crisis. He stressed that without a free-price mechanism it was impossible to make rational decisions about the allocation of resources. Müller-Armack developed his concept of the social market economy and in May 1948, he presented a blueprint, outlining its objectives and the means by which it could be achieved. The collapsing system of government controls needed to be replaced by the free market. Consumer choice would have the power to establish real prices and encourage production. Social security should be achieved and workers needed to be given ‘social right to participate’ in the organization of their work (ein soziales Mitgestaltungsrecht), without, reducing managerial initiative and the responsibility of the employer. Monopolies needed to be resisted to prevent the abuse of economic power. The Wangeroog programme emphasized preventing the abuse of property and opposing monopolies, but specifically provided for market-regulation agreements, and claimed that a general ban on such agreements was ‘untenable for economic reasons’.

Keywords:   neo-liberalism, currency crisis, social market economy, free market, consumer choice, Wangeroog programme, market-regulation agreements, Miiller-Armack

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .