Monetary Policy Crisis Management as a Threat to Economic Order

Artikel

The paper analyses the effects of monetary policy crisis management of the European Central Bank on the economic order of Germany. It is argued that in post-war Europe the German social market economy as designed by Eucken (1952) and Müller-Armack (1966) has been a core element of growth, welfare, social cohesion and political stability in Germany and Europe as a whole. It is shown that the monetary policy rescue measures of the European Central Bank have undermined the constitutive principles of the German social market economy, which has considerably contributed to the erosion of (productivity) growth and welfare in Germany and Europe. As the outcome is crumbling social cohesion and growing political instability, a timely exit from ultra-expansionary monetary policy is postulated.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Credit and Capital Markets – Kredit und Kapital ; ISSN: 2199-1235 ; Volume: 50 ; Year: 2017 ; Issue: 2 ; Pages: 151-169

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought since 1925: General ; Austrian; Evolutionary; Institutional ; History of Economic Thought since 1925: Historical; Institutional; Evolutionary; Austrian; Stockholm School
• Subject: Crisis Management ; Europe ; Alfred Müller-Armack ; Economic Order ; Social Market Economy ; Soziale Marktwirtschaft ; Germany ; Walter Eucken ; Monetary Policy

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Freytag, Andreas ; Schnabl, Gunther
• Event: Veröffentlichung
• (who): Duncker & Humblot
• (where): Berlin
• (when): 2017

Further information

• DOI: doi:10.3790/ccm.50.2.151
• Last update: 10.03.2025, 11:41 AM CET