Within the Anglo-American world, economic liberalism is generally viewed as having only one progenitor—Adam Smith—and one offspring—neoliberalism. But it actually has two. The work of G. W. F. Hegel was also very influential on the development of economic liberalism, at least in the German-speaking world, and the most powerful contemporary instantiation of economic liberalism within that world is not neoliberlaism, but ordoliberalism, although this is generally unknown and certainly unacknowledged outside of Continental Europe. Accordingly, what I am going to (...) be doing in this piece is trying to bring ordoliberalism more directly into the light—I will argue that by comparing and contrasting the views of Smith and Hegel or at least between how Smith and Hegel tend to be currently (mis)understood, we can better understand both the roots and the nature of these two contemporary incarnations of economic liberalism, and the light this sheds, in turn, brings some interesting and important features of these two contemporary theories into view. From Smith, for example, neoliberals took the idea of the invisible hand, although I am going to argue that contemporary advocates of invisible hand theory have largely misconstrued or at the very least overstated the significance of this metaphor. From Hegel, in contrast, ordoliberals took the idea of the civil society, and I will argue that the civil society is a much better metaphor not only for Hegel's but also for Smith's views. Indeed, I will argue that ordoliberalism, not neoliberalism, is a better and more coherent instantiation of economic liberalism than neoliberalism could ever be. (shrink)

This article considers the possibility of articulating a renewed understanding of the principle of political idealism on the basis of Edmund Husserl’s phenomenology. By taking its point of departure from one of the most interesting political applications of Husserl’s phenomenological method, the ordoliberal tradition of the so-called Freiburg School of Economics, the article raises the question of the normative implications of Husserl’s eidetic method. Contrary to the “static” idealism of the ordoliberal tradition, the article proposes that the phenomenological concept of (...) political idealism ought to be understood as a fundamentally dynamic principle. As opposed to the classical understanding of political idealism as the implementation of a particular normative model—political utopianism—the phenomenological reformulation of this idea denoted a radically critical principle of self-reflection that can only be realized on the basis of perpetual renewal. In order to illustrate this point, the article considers Husserl’s distinction between two types of ideals of perfection, the absolute and the relative, and argues for their relevance for political philosophy. (shrink)

The law of political economy is a contentious ideological field characterised by antagonistic relations between scholarly positions which tend to be either affirmative or critical of capitalism. Going beyond this schism, two particular features appear as central to the law of political economy: the first one is the way it epistemologically seeks to handle the distinction between holism and differentiation, i.e., the extent to which it sees society as a singular whole which is larger than its parts, or, rather, as (...) a mere collection of parts. Different types of legal and political economy scholarship have given different types of answers to this question. The second feature of the law of political economy is the way in which it conceives of the relation between hierarchical and spontaneous dimensions of society, i.e., between firms and the market, or between public institutions and public opinion. The two distinctions can, however, be overcome through a third-way, emphasising the strategic role of law in mediating between holism and differentiation and hierarchy and spontaneity. This is demonstrated through a historical re-construction of the evolution of corporatist, neo-corporatist, and governance-based institutional set-ups of political economy. (shrink)

Se tratan algunas de las discusiones vertidas en el coloquio Lippmann de 1938, evento que puede considerarse con los datos actuales como la escena inaugural del neoliberalismo. Se muestra tanto la heterogeneidad de dos grupos de pensadores que marcarán posteriormente la línea alemana y norteamericana de pensadores neoliberales. Al mismo tiempo se muestran algunas de sus coincidencias principales en torno a una idea de democracia para el mercado.