Abstract

The article expounds the ordo-liberal tradition that emerged as a distinct neo-liberal conceptualization of free economy as a political practice. According to this tradition there are things more important than GDP in as much as free economy depends on the formation of the moral and the social preconditions of market freedom. The social facilitation and moral embedding of free economy are fundamental to the ordo-liberal conception of a human economy, which entails a social policy of Vitalpolitik – a politics of life. Particularly at a time of manifest economic crisis and austerity, the social and moral veracity of economic liberty depends thus on the exercise of strong state authority.