Sustainable development and the concept of social market economy Cover Image

Trwały rozwój a koncepcja społecznej gospodarki rynkowej
Sustainable development and the concept of social market economy

Author(s): Bogusław Fiedor
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: sustainable development; social market economy; ordoliberalism; ecological intergenerational equity

Summary/Abstract: The paper starts with a brief description of the concept of sustainable development in which the author emphasizes its multidimensionality, interdisciplinary character, as well as key significance of intergenerational equity (justice) in defining the sustainability of development. Against this background, he analyzes whether and to what extent the concept of sustainable development may be “incorporated” into the theory of social market economy. It is, in other words, an attempt to answer the following question: Is it possible and, at the same time, consistent with ordoliberal foundations and nature of social market economy concept to “ecologically broaden” the way of understanding this concept. The answer in question consists in the proposal of a model (in a very wide meaning of this word) of ecological social market economy. To the substantial extent, it is an empirical-descriptive model which refers to legal-institutional solutions in the Federal Republic of Germany as a country in which the ordoliberalism emerged and developed as a school in the liberal economic thought of XX century, as well as in which the attempts at implementing the foundations of social market economy in the Ordnungs and economic policy have been undertaken with taking into account fundamental ideas of ordoliberalism.

  • Issue Year: 2011
  • Issue No: 225
  • Page Range: 13-29
  • Page Count: 17
  • Language: Polish