The Role of the State According to the Ordoliberal Concept of Economic Policy

Ordoliberal orientation as a variety of the liberalism seems to create the intellectual premises helping to overcome the presently observed weaknesses of the liberal doctrine. Ordoliberalism stresses the role played by the 'developmental mission' which is understood to direct the activities of the state towards building the economic order. Economic order, under conditions of freedom for business entities and the proper operation of markets, assists majority of individuals in the society to attain their objectives. According to ordoliberal orientation the invisible hand, for its effective performance, requires the supplement in the form of economic order, formed by the state. European integration and the realities of globalization support the view that the ordoliberal thought on policies that enhance the economic order should be enriched beyond, the initially assumed by ordoliberals, the limits of national economies.