IN CONTEXT
Society and the economy
Walter Eucken (1891–1950)
Wilhelm Röpke (1899–1966)
Alfred Müller-Armack (1901–78)
1848 Karl Marx and Friedrich Engels publish the Communist Manifesto.
1948 German economists Walter Eucken and Franz Böhm establish the journal ORDO, which gives its name to ordoliberalism, a movement that advocates the social market economic model.
1978 Chinese Premier Deng Xiaoping introduces capitalist elements into the Chinese economy.
1980s Milton Friedman’s monetarist arguments against government intervention are adopted by the US and UK.
In the aftermath of World War II West Germany had to rebuild its economy ...
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