Description
Book SynopsisLiberal 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.
Trade Review“I liked Thomas Aubrey’s short book. It could alternatively be called, Confronting the weaknesses of the Anglo-Saxon economic model. But it does this in a thoughtful way, contrasting the utilitarian tradition of UK/US economic policy with (West) Germany and the “underlying ordoliberal principle of power dispersion.”” The Enlightened Economist
Table of ContentsChapter 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
