Ordoliberalism is a theoretical and cultural tradition of significant societal and political impact in post-war Germany. For a long time the theory was only known outside Germany by a handful of experts, but ordoliberalism has now moved centre stage after the advent of the financial crisis, and has become widely perceived as the ideational source of Germany's crisis politics. In this collection, the contributors engage in a multi-faceted exploration of the conceptual history of ordoliberalism, the premises of its founding fathers in law and economics, its religious underpinnings, the debates over its theoretical assumptions and political commitments, and its formative vision of societal ordering based upon a synthesis of economic theories and legal concepts. The renewal of that vision through the ordoliberal conceptualisation of the European integration project, the challenges of the current European crisis, and the divergent perceptions of ordoliberalism within Germany and by its northern and southern EU neighbours, are a common concern of all these endeavours. They unfold interdisciplinary affinities and misunderstandings, cultural predispositions and prejudices, and political preferences and cleavages. By examining European traditions through the lens of ordoliberalism, the book illustrates the diversity of European economic cultures, and the difficulty of transnational political exchanges, in a time of European crisis.

This volume takes a broad perspective on the recent debate on the role of German ordoliberalism in shaping European economic policy before and after the eurozone crisis. It shows how ordoliberal scholars explain the institutional origins of the eurozone crisis, and presents creative policy proposals for the future of the European economy. Ordoliberal discourse both attempts to offer political solutions to socioeconomic challenges, and to find an ideal market order that fosters individual freedom and social cohesion. This tension between realpolitik and economic utopia reflects the wider debate on how far economic theory shapes, and is shaped by, historical contingencies and institutions. The volume will be of interest to policymakers as well as research scholars, and graduate students from various disciplines ranging from economics to political science, history, and philosophy.

Since the financial crisis of 2008, ordoliberalism emerged from relative obscurity to become one of the crucial terms of analysis across a wide range of academic literatures and public discussion. In fact, it became the main reference for a number of issues, including assessments of the attempted resolution of the Eurozone crisis, arguments about German hegemony in Europe, debates over the future of economic liberalism and controversies about authoritarian liberalism. What is striking about ordoliberalism is its pronounced ambiguity, as some view it as a more refined and potentially progressive variant of neoliberalism, while others cast it as a blueprint for a regime of austerity reigning over a society of competition with only rudimentary democratic institutions. And while ordoliberalism is often portrayed as a quintessentially German tradition, its impact has not been confined to the German context, extending all the way to the unlikely case of China. In short, ordoliberalism is a phenomenon of arguably considerable influence that remains poorly understood, as it is mystified by its proponents and vilified by its critics. The Oxford Handbook of Ordoliberalism contains a selection of chapters written by an international cast of experts on ordoliberalism that aim to elucidate and analyze the latter in all of its many facets. From the intellectual origins and prime exemplars to its main theoretical themes and practical applications up to the most recent debates taking place across a range of disciplines, this volume offers the first comprehensive account of ordoliberalism for the English-speaking world.

Explores the ideological, political, and economic stakes of struggles over international law's history and its relation to empire and capitalism.

Once seen as aspirational and relatively innocuous, 'sustainability' or 'sustainable development' provisions are now changing the face of international trade agreements. The Sustainability Revolution in International Trade Agreements gathers fundamental, first-hand analyses of these novel commitments across dozens of agreements, considering their legal, political, and economic aspects. Drawing on perspectives from different parts of the world and engaging experts in the law and practice of sustainability provisions, this volume offers a comprehensive assessment of the latest developments and innovations in international trade agreements. It also evaluates the development challenges that sustainability requirements pose for countries with limited resources and capacity, for whom lower labour and environmental regulatory costs have been a competitive asset. The present volume explores the intersectional aspects of sustainability - such as gender equality, biodiversity, animal welfare, and Indigenous rights - in addition to the more traditional dimensions of sustainability, namely economic development, environmental conservation, and improvement of labour standards. There is little doubt that a sustainability revolution in global production patterns is needed. Considering the details of its operation - how it can come into being, who will bear the increased production costs, and how decisions on difficult trade-offs will be made - reveals the immense challenges involved in developing a new international law for sustainable trade. Read together, the chapters in this volume outline the contours this emerging legal framework, examine its practical operation, and offer important reflections upon the real extent and the foreseeable consequences of this sustainability revolution in international trade agreements.

The book examines the historical significance and contemporary relevance of a body of thought about rejuvenating liberalism that has tended to be neglected in the English-speaking world in favour of the rise of social liberalism.

How was the Banking Union, the most advanced legal and institutional integration in the single market, created? How does European law impact European integration? To answer these questions, this book provides a sweeping account of the evolution of European law. It identifies five integration periods of the single financial market, intertwined with the development of global finance, from its origins, through its expansion and crisis, to the Banking Union. Each period is defined by innovations to deepen integration, such as the single passport for financial services, soft governance and comitology, agencies, or a single rulebook. Providing a far-reaching explanation of the legal and institutional rationality of the European Banking Union, this book demonstrates that the Banking Union is not an accident of history or simply the product of the existential crisis of the Monetary Union. It has deep roots in the evolutionary process of European law and its drive towards supranational integration.

Recent years have seen contestations of democracy all around the globe. Democracy is challenged as a political as well as a normative term, and as a form of governance. Against the background of neoliberal transformation, populist mobilization, and xenophobic exclusion, but also of radical and emancipatory democratic projects, this collection offers a variety of critical and challenging perspectives on the condition of democracy in the 21st century. The volumes provide theoretical and empirical enquiries into the meaning and practice of liberal democracy, the erosion of democratic institutions, and the consequences for citizenship and everyday lives. With a pronounced focus on national and transnational politics and processes, as well as postcolonial and settler colonial contexts, individual contributions scrutinize the role of democratic societies, ideals, and ideologies of liberal democracy within global power geometries. By employing the multiple meanings of The Condition of Democracy, the collection addresses the preconditions of democratic rule, the state this form of governance is in, and the changing ways in which citizens can (still) act as the sovereign in liberal democratic societies. The books offer both challenging theoretical perspectives and rigorous empirical findings of how to conceive of democracy in our times, which will appeal to academics and students in social and political science, economics, and international relations amongst other fields. The focus on developments in the Middle East and North Africa will furthermore be of great usefulness to academics and the wider public interested in the repercussions of western democracy promotion as well as in contemporary struggles for democratization ‘from below’. During the last 50 years, liberal democracies have been exposed to a fundamental reorganization of their politico-economic structure that transformed them through the impact of neo-liberal economic doctrines focused on low taxation, free markets, and out-sourcing that have little regard in reality for democratic institutions or liberal values. The failures of the neoliberal ‘remedy’ for capitalism are now dramatically obvious through the banking crisis of 2008-2011, the increase in income inequality, the social and psychological damage caused by the austerity packages across Europe, and widespread dependence on experts whose influence over government policies typically goes without public scrutiny. While this has only accelerated the destruction of the social fabric in modern Western societies, the dramatic redistribution of wealth and an open 'politics for the rich' have also revealed the long-time well-covered alliance of the global oligarchy with the Far Right that has the effect of undermining democracy. The contributions to this volume discuss a wide variety of processes of transformation, the social consequences, dedemocratization and illiberalization of once liberal democracies through the destructive impact of neoliberal strategies. These strongly politico-economic contributions are complemented with general sociological analyses of a number of cultural aspects often neglected in analyses of democracy.

Offering a concise and critical comparison of EU competition law and US antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses combining law and economic approaches.

This book is a survey of the field of development studies from a political economy perspective. It first reviews the academic literature on development and highlights the fundamental importance of institutions and social values, over and above other alternative theories, as determinants in long-run development. In this context, the book draws from the works of Nobel Laureates Douglass North, F.A. Hayek and Elinor Ostrom, and argues that the ingredients of property rights, the rule of law, and market freedoms are essential in generating socio-economic progress. Successful reforms however are not simply a function of constructing formal institutions, but must cohere with the social values, norms, and cultural commitments of local communities. It is in this spirit that the book theorises on the oft-neglected role that political entrepreneurs play in driving endogenous institutional change. Specifically, this book integrates the theoretical discussion on market-driven development with a range of case studies from around the world, featuring the bottom-up efforts of local change agents to pursue institutional reforms and changes in social opinion.