Ordoliberalism: What we know and what we think we know

Abstract

This article draws on direct archival evidence from the Committee responsible for drafting the Gesetz gegen Wettbewerbsbeschränkungen 1957 (GWB) to establish what the priorities and beliefs of the Ordoliberals (broadly construed) were during the mid- to late-1950s. This is done primarily by analysing the views expressed by Franz Böhm, Finance Minister Ludwig Erhard and Alfred Müller-Armack. This work is important as it challenges the current understanding of Ordoliberalism. It reveals that aspects of the current understanding of Ordoliberalism are either flawed or do not take into account the changes that occurred between the submission of the Josten Draft (1949) and the drafting of the GWB (enacted 1957). This evidence also challenges the argument that the influence of Ordoliberalism on EU competition law has been exaggerated.