Eucken held the state should regulate the rules but never steer economic outcomes

Evidence

As Eucken defined the role of the state in the economy: “First principle: the policy of the state should be focused on dissolving economic power groups or at limiting their functioning. [ … ] Second principle: The politico-economic activity of the state should focus on the regulation of the economy, not on the guidance of the economic process.” — Mark Blyth, Austerity, 361

Categorization

• DEFINE: The canonical ordoliberal formulation — state as referee of economic constitution, not player.
• XREF: Distinguishes ordoliberalism’s ‘regulate-not-guide’ from both laissez-faire and dirigisme; directly relevant to Mattei’s discussion of how austerity emerged within this tradition.