Consejo Europeo de coyuntura

Traducido por Santiago García Echevarrí

Adam Smith and Ordoliberalism : On the Political Form of Market Liberty

In the context of the contemporary crisis of neoliberal political economy, the politics of austerity has reasserted the liberal utility of the state as the political authority of market freedom. This article argues that economy has no independent existence, and that instead, economy is a political practice. It examines the political economy of Adam Smith and the German ordoliberal tradition to decipher the character of the political in political economy and its transformation from Smith's liberal theory into neoliberal theology. Ordoliberalism emerged in the late 1920s at a time of a manifest crisis of political economy, and its argument was fundamental for the development of the neoliberal conception that free economy is matter of strong state authority. The conclusion argues with Marx that the state is the concentrated force of free economy

Consejo Europeo de coyuntura

Traducido por Santiago García Echevarrí

European economic constitution and the transformation of democracy : on class and the state of law

In the context of contemporary analyses of the Europe Union as a post-democratic form of economic governance, this article explores the (ordo)liberal character of monetary union as a regime of imposed liberty. The argument holds that rather than forcing the member states into retreat, the economic constitution of Europe strengthens their liberal foundation, securing their utility as the organised force of a mode of social reproduction founded on free labour. It develops the character of the liberal state as the political form of a free market economy with reference to Adam Smith’s classical political economy and the German ordoliberal tradition, which calls for a rule-based system of federated forms of economic governance to secure a free labour economy in conditions of mass democratic aspirations for a freedom from want. It explores the rationale of the ordoliberal distinction between the liberal character and the democratic character of the state and, in this context, assesses the meaning of liberal democracy in a post-democratic Eurozone