Welfare, Care and Human Economy in the Theory of Wilhelm Röpke

Abstract

One of the leaders of the German ORDO review group was the outstanding liberal economist Wilhelm Röpke, who did a critical review of political economy during the so-called ‘social policy period’. We aim to show the advisability of his thinking in order to reconsider the role of the state in political economy at ‘the post-welfarist age’. Röpkean thought is based on a humanistic approach to economy, from which he questions the ability and opportunity of social care provision by state. Unlike other liberals and libertarian ideologists, Röpke is not against the public intervention in the economy and he provides a measurable alternative: Der dritte Weg.