ORDOLIBERAL POLITICAL PHILOSOPHY: THE PHENOMENON OF THE SOCIAL-MARKET ECONOMY

МА Miloš Vulić

Abstract

In this paper, we will deal with ordoliberal political philosophy and the social-market economy as its key phenomena. Our goal is to try to show the development path of the term, its initial perception, but also its later reception. In the first part of the work, the sources of the social-market economy are analyzed, of which the Christian social doctrine, which was born as a reaction to economic-political problems, stands out as the main source. Special attention is paid to papal encyclicals, which form the basis of the Christian-democratic ideology. The second part is devoted to the development of the social market economy. In it, we deal with the emergence of the Freiburg School and the thought of its main representatives, who will introduce the concept of order into the liberal tradition, which is why they will remain known as members of ordoliberalism. The third part analyzes the systematization of the social-market economy, with special reference to the relationship between the philosophies of ordoliberalism and neoliberalism, in terms of their similarities and differences. In that part, we deal with the international context of this political philosophy through the formation of the Mont Pelerin Society. The last part of the paper discusses the reception of the social market economy, in the German and European context, with the conclusion that in times of repeated global crises, the values that the ordoliberal political philosophy and the phenomenon of the social market economy carry with them can once again contribute to the responsibility of economic and political actors.

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