Ordoliberalism and social market economy

Freiburg school of ordoliberalism contributions to the modern economic thinking and some of its implications for post-war economic and social policy in West Germany are discussed in this paper. After explaining some elementary terms there is a short excursion in the economic history and external conditions. Part four discusses the importance of competition for both a dynamic and stabile economic growth performance and long-lasting balance in society, followed by a description of the basic premises of the competitive order - the constitutive principles and the regulatory principles preserving the competition and balance in long-run period. The role of state, science and the churches in creating and influencing both the order of economy and society is the theme of part five. Social market economy arising from the ordoliberal theoretical conception is discussed in part six.