High Quality Content by WIKIPEDIA articles! Ordoliberalism is a school of liberalism that emphasised the need for the state to ensure that the free market produces results close to its theoretical potential (see allocative efficiency). The theory was developed by German economists and legal scholars such as Walter Eucken, Franz Bohm, Hans Grossmann-Doerth and Leonhard Miksch from about 1930-1950. Alexander Rustow and Wilhelm Ropke (who spent the Nazi period in exile in Turkey) are associated with this theory. Ordoliberal ideals (with modifications) drove the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder. In the beginning, many Ordoliberals called themselves Neoliberals ("new Liberals”) to separate themselves from old school classical liberalism. However, ordoliberals promoted the concept of the social market economy, and this concept promotes a strong role for the state with respect to the market, which is in many ways different...

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