The Freiburg School refers to a renowned economic school of thought that emerged in Freiburg, Germany, during the early 20th century. The Freiburg School is associated with the discipline of ordoliberalism and represents a distinctive German approach to economics. It is characterized by its emphasis on market forces, individual freedom, and the social market economy.
This school believes in the importance of preserving individual liberty within a capitalist system while recognizing the need for state intervention to ensure fair competition and prevent market failures. The Freiburg scholars argue for a balance between economic efficiency and social welfare, advocating for policies that promote both.
The central tenets of the Freiburg School include the belief in the rule of law, a stable currency, and the rejection of excessive government intervention in the economy. They emphasize the role of competition in driving economic growth and argue for the establishment of a competitive market environment with as little distortion as possible.
Moreover, the Freiburg School puts significant importance on a social market economy, promoting the idea that market mechanisms should serve the welfare of society rather than solely pursuing individual self-interest. They believe that government intervention should primarily focus on creating a framework that encourages competition, protects consumers, and provides a safety net for those in need.
Overall, the Freiburg School represents a unique economic perspective that combines classical liberal ideals with a commitment to a socially just market economy. Its influence can be observed in the development of Germany's successful post-war economic model.
