Abstract
Ordoliberalism is a German school of economic thought that advocates regulation of the free market economy based on a set of state-imposed rules guaranteed by the economic constitution, to impose a competitive order in society. It proposes an alternative method to pure laissez-faire and state-planned economy for the better regulation of the market economy, where the goals are the protection of the competitive process and individual freedom. In this paper I submit that ordoliberalism, an indigenous European competition policy, is an adequate economic and analytical tool upon which to base the practice and decision-making of competition law. My aim is twofold: to contribute to the discussion on what ordoliberalism is, in general, and in particular concerning competition policy , and offer a fresh perspective on an ordoliberal-oriented competition policy.
Highlights
Ordoliberal ideas of Wettbewerbsordnung and Wettbewerbsfreiheit — competitive order and freedom to compete — have partially influenced the historical development of the internal market,[1] and EU competition policy.[2]
I have analysed and revisited the main concepts and ideas espoused by ordoliberalism as a social and economic policy, which applies competition law as one of the main instruments in the pursuit of the protection of individual freedom and of freedom to compete
I embarked upon the rather ambitious task of proposing reinterpretation of ordoliberal ideas to align them with the development of EU competition policy as an economic analytical framework that guides the interpretation and application of competition law
Summary
I turn to my suggestions for the understanding and readjustment of a contemporary ordoliberal competition policy based on traditional ordoliberal concepts. Due to the scope of this paper, I discuss the proposals in broad strokes, as these issues can be explored further in future ordoliberal-oriented research
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