The Politics of the Eurozone Crisis
Two Puzzles behind the German Consensus
Bibliographic Data
| ID | 7785249 |
|---|---|
| Authors | Wade Jacoby (corresponding author) |
| Year | 2014 |
| Volume | 32 |
| Issue | 2 |
| Pages | 70-85 |
| Publication date | 2014-03-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | German Politics & Society (JOURNAL) |
| Journal identifiers | ISSN: 1045-0300 • E-ISSN: 1558-5441 |
| Publisher | Berghahn Books (PUBLISHER • GB) |
| DOI | 10.3167/gps.2014.320205 |
| OpenAlex | W2154644878 |
| Language | EN |
| Citations received | 31 |
This article offers a corrective to the notion that German ordoliberal ideology is the key to understanding German policy behavior during the Eurocrisis and, by extension, to the contours of the electoral debate in fall 2013. First, it shows that ordoliberal thought underdetermines policy choices. That is, different actors clearly influenced by ordoliberal thinking and often stressing different aspects of the broader ordoliberal cannon are arguing for more or less diametrically opposed policy solutions. Second, the article provides evidence that this deep divide inside the ordoliberal policy community has contributed additional incentives to the tentative and inconclusive policy choices of the government throughout much of the Eurocrisis. Third, the article extends the analysis of this very cautious policymaking into the campaign phase and the subsequent coalition agreement. It explains why the two major German parties—including an SPD with a much thinner attachment than the CDU to ordoliberalism—sought to play down the Eurocrisis in their campaigns and in their subsequent coalition agreement. One implication is the low probability of German policy change despite ideological differences
Coalition government · Economics · German · Ideology · Incentive · Market economy · Political economy · Political science · Politics · Positive economics · Sociology · European Union Policy and Governance · History · Law · Political Influence and Corporate Strategies · Social Policy and Reform Studies
Eurozone Policy and Crisis
The Social Market Economy and Ordoliberalism—A Difficult Relationship
Youth Participation in Eastern Europe in the Age of Austerity
The eurozone crisis, German hegemony and labour market reform in the Gips countries
The role of role theory in international political economy
Nein to ‘Transfer Union’
Soft and hard law in times of crisis
Do crises lead to policy change? The multiple streams framework and the European Union’s economic governance instruments
La geopolítica de la austeridad europea
Germany and the Euro-Zone Crisis
Networks of economic policy expertise in Germany and the United States in the wake of the Great Recession
The Reforms of the Economic and Monetary Union During the Euro Crisis
Ordoliberal ideas on Europe
Crises and Responsiveness
When Is It Rational to Learn the Wrong Lessons? Technocratic Authority, Social Learning, and Euro Fragility
Indirect responsiveness and green central banking
Powerful rules governing the euro
Reconfiguring sovereignty
Continuity despite crises
NextGenerationEU and the Future of the European Monetary Union
There's a Brand New Talk, but it's Not Very Clear
As I Drifted on a River I Could Not Control
Merkel's Germany and the European Union
Grand Coalitions and Democratic Dysfunction
Contested governance
Germany After the Social Democratic Century
An Ordoliberal Theory of the State
Surplus Germany
The Financial Consequences of Export-led Growth in Germany and Italy
European integration in crisis? Of supranational integration, hegemonic projects and domestic politics
Ordoliberalism, European Monetary Union and State Power
| Unique citing works | 31 |
|---|---|
| Citations per year | 2,82 |
| Citation span | 2015 - 2025 (11) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 31 |