ordoliberal

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English

WOTD – 26 September 2022

Etymology

Probably a back-formation from ordoliberalism, borrowed from German Ordoliberalismus (coined in 1950 by the German economist Hero Moeller (1892–1974)), from ORDO (the name of a journal, the full title of which is ORDO — Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft (ORDO – Yearbook of Economic and Social Order)) + Liberalismus (“liberalism”). ORDO is derived from Latin ōrdō (“methodical arrangement, order, or series”), probably ultimately from Proto-Indo-European *h₂er- (“to fit, put together; to fix”).

Pronunciation

Noun

ordoliberal (plural ordoliberals)

  1. (economics, politics) A proponent of the theories and ideals of ordoliberalism (“a political philosophy that emphasizes the desirability of the government establishing rules to maximize the potential of the free market to produce results”).
    • 2017 November, Thorsten Beck, Hans-Helmut Kotz, “Introduction”, in Thorsten Beck, Hans-Helmut Kotz, editors, Ordoliberalism: A German Oddity? (A VoxEU.org eBook)‎, London: CEPR Press, →ISBN, archived from the original on 31 May 2020, page 15:
      [W]hile ordoliberals share strong policy preferences (in some cases "elevated to the status of a religion"), they rest their case on rigorous micro analysis and stress the pertinence of a long-term orientation.

Translations

Adjective

ordoliberal (comparative more ordoliberal, superlative most ordoliberal)

  1. (economics, politics) Of or relating to ordoliberalism.
    • 2017 November, Thorsten Beck, Hans-Helmut Kotz, “Introduction”, in Thorsten Beck, Hans-Helmut Kotz, editors, Ordoliberalism: A German Oddity? (A VoxEU.org eBook)‎, London: CEPR Press, →ISBN, archived from the original on 31 May 2020, page 14:
      The institutional design of EZ [the Eurozone], being influenced by the rules versus discretion debate, has some ordoliberal touches (not the least since some German architects were imbued with ordoliberal ideas), but, of course, in reality, in particular in the wake of the crisis, they were not upheld.

Translations

References

  1. ^ Hero Moeller (1950) “Liberalismus”, in Jahrbücher für Nationalökonomie und Statistik [Yearbooks for National Economics and Statistics], volume 162, number 3, Jena, Thuringia: Mauke, →ISSN, →JSTOR, →OCLC, pages 214–238.
  2. ^ Andreas Kluth (2018 January 31) “Ordoliberalism and the alleged aberration of German economics”, in Handelsblatt‎, Düsseldorf, North Rhine-Westphalia: Handelsblatt Media Group, →ISSN, →OCLC, archived from the original on 13 February 2022: “The goal of the Ordoliberals was to create a constitutional order (ordo, in Latin) that would guarantee economic freedom (hence ‘liberal’).”

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