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Liberal democracies are under increasing pressure. Growing discontent about inequality, lack of political participation and identity have rekindled populism and a shift away from liberal values.
This book argues that liberalism’s reliance on a utilitarian policy framework has resulted in increased concentrations of power, restricting freedom and equality. It examines five key areas of public policy: monetary policy, private property and liability, the structure of the state, product markets and labour markets.
Drawing on the German ordoliberal tradition and its founding principle of the dispersal of power, the book proposes an alternative public policy framework. In doing so, it offers a practical pathway to realign policy making with liberal ideas.
Chapter 1: Introduction
Chapter 2: The Liberal Order and Its Utilitarian Foundation
Chapter 3 the Rise of Ordo
Chapter 4 the West German Experiment and the Decline of Ordo
Chapter 5 Monetary Policy: The Illiberal Practice of Inflation Targeting
Chapter 6 Liability and Private Property: Confronting the Perfect Externalising Machine
Chapter 7 Structure of the State: Community and Vitalpolitik
Chapter 8 Labour Markets: Continuous Training and Flexibility
Chapter 9 Product Markets: Enforcing the Price Mechanism
Chapter 10: Confronting Liberalism’s Fatal Flaw
Appendix: Methodology Used for Measuring the Dispersal of Public and Private Power by Policy Field