Money and Markets: Essays in Honor of Leland B. Yeager

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Figure 8.1 The “Genealogical Table.”
102 Jürgen G. Backhauspredictability of economic policy, and explains what can be deduced from this principleand what can not. In its first two decades before the accession of Britain to theEuropean Union, Ordo-liberal principles played an important role in EuropeanUnion policies. It is therefore important that François Bilger discusses both ideasand interests in the development of the European economic order.Ordo-economic principles tend to evoke the strongest controversies whenapplied to labor market and social policy. This is the topic of Part II of this book.Five quarters of a century ago, German economists started to pose the “socialquestion” in an unmistakenly different way from how other economists in France,Britain, or Italy predominantly did at the same time (Backhaus in press). BernhardKülp turns to Walter Eucken’s position with respect to the social question. UlrichWitt discusses the social market economy, Germany’s specific “answer” to thesocial question, which he is positioning between notions of rent-seeking and socialcontract respectively. Whether, from Eucken’s point of view, there can be marketorder in the labor market is the topic of Volker Rieble’s contribution. A specificexample of German labor market legislation ostensibly trying to provide for alevel playing field concerns the so-called Worker Transfer Act (Arbeitnehmer-Entsendegesetz), which basically subjects workers employed by foreign companiesoperating in Germany, such as a British construction company doing work ona Berlin construction site, to the same conditions that would apply to Germanworkers. Thus, a British electric contractor who has won a bid on a Berlin constructionsite has to subject his electricians to German working and pay conditions, thusrobbing him of an important competitive advantage. Manfred Löwisch takes thisexample and uses Eucken’s approach for a thorough criticism. This example,whether one agrees with the results of the analysis or not, shows how topicalEucken’s work can be and how usefully it can be employed in the context of law andeconomic analysis. The integration of the German health industry, public, not forprofit, and private, into the European market is the topic of an analysis by EckhardKnappe and Hans-Joachim Jubelius, who again take an Ordo-economic approach.Norbert Berthold, who can always be found in the front lines of current politicaldebate holding up the Ordo-economic flag, discusses options for social securityreform.At the heart of Ordo-economic principles is the notion that it is one of theprimary (if not the primary) purposes of a state to provide for and guarantee theinstitutions which the market requires for its proper operation. Any policy initiativeshould withstand the test of whether it is compatible with the principles of a marketeconomy. Hence, Part III of the book is devoted to the issue of the role of the statewith respect to competition. Hans Otto Lenel therefore takes up the central conceptof private economic power. Christian Watrin compares the view of the purposes ofthe state of Walter Eucken on the one hand and Friedrich von Hayek on the other.Erich Streissler deals with free financial markets from Eucken’s point of view. HansWillgerodt wonders whether state systems of control or system of self-control arethe better remedy against currency crises. Bernd Schauenberg takes up corruptionas a problem for economic organizations as such, but the economic order as awhole as well. Here we see how close Eucken’s approach can come to current issues
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Money and MarketsIn recent decades,
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The Cultural Foundations ofEconomic
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First published 2006by Routledge2 P
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viiiContents9 The genesis of an ide
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ContributorsJürgen G. Backhaus is
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Preface and acknowledgmentsLeland B
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1 A zeal for truthRoger KopplIf the
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A zeal for truth 3kind of decision-
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A zeal for truth 5and attributes to
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A zeal for truth 7“30 years to th
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A zeal for truth 9I have a $10 bank
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A zeal for truth 11conversation, Ye
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A zeal for truth 13a market economy
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A zeal for truth 15of “approval o
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A zeal for truth 17to offer about e
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A zeal for truth 19Klappholz, K. an
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2 The Yeager mystiqueA profile of t
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The Yeager mystique 23students bent
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The Yeager mystique 25Yeager’s pe
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The Yeager mystique 27none, but not
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The Yeager mystique 29demeanor coul
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The Yeager mystique 31wanted to cou
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The Yeager mystique 33The common id
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The Virginia renaissance in politic
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4 LelandA personal appreciationGord
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Leland, a personal appreciation 47I
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Monopoly politics and its unsurpris
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Page 82 and 83: Good ideas and bad regressions 67I
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Page 90 and 91: Good ideas and bad regressions 75Le
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Page 96 and 97: Good ideas and bad regressions 81th
Page 98 and 99: 7 Pluralism, formalism, andAmerican
Page 100 and 101: Pluralism, formalism, and American
Page 114 and 115: 8 Leland’s favorite economists *J
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Page 134 and 135: circumstances and even acts of will
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Page 142 and 143: The genesis of an idea 127Stuart Mi
Page 144 and 145: The genesis of an idea 129suggest t
Page 146 and 147: The genesis of an idea 131macroecon
Page 148 and 149: The genesis of an idea 133value. Hi
Page 150 and 151: The genesis of an idea 135half of m
Page 152 and 153: The genesis of an idea 137Unsettled
Page 154 and 155: The genesis of an idea 1398 “M. S
Page 156 and 157: ReferencesThe genesis of an idea 14
Page 158 and 159: 10 The macroeconomics of money,savi
Page 160 and 161: The macroeconomics of money, saving
Page 162 and 163: The macroeconomics of money, saving
Page 164 and 165: Mr. YeagerThe macroeconomics of mon
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11 No-name moneyMaria Minniti and L
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No-name money 153many political lea
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No-name money 155consultants, who f
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No-name money 157bank chose the one
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No-name money 159While inflation in
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No-name money 161was reinforced by
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No-name money 163private ownership,
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No-name money 165Mencinger, Joze (1
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Monetary disequilibrium theory and
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Reflections on reswitching and roun
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14 Leland Yeager’s utilitarianism
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Leland Yeager’s utilitarianism as
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15 Ethnic conflict and theeconomics
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Ethnic conflict and the economics o
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NotesEthnic conflict and the econom
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The legacy of Bismarck 243War, the
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The legacy of Bismarck 245people wo
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The legacy of Bismarck 247system, b
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The legacy of Bismarck 249Old age i
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IndexAckley, G., Macroeconomic Theo
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Marshall, A.: approach to economics
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concerns 10-11, 150; monetarydisequ
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Money and Markets: Essays in Honor of Leland B. Yeager

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