Ordoliberalism sought growth through product quality competition as a supply-side Say’s law

Evidence

By attacking concentration and cartels while keeping prices stable, ordoliberals hoped to generate growth by enhancing the competitiveness of German firms and the attractiveness of their products. The policy objective of these institutions was therefore the encouragement of “achievement competition” rather than “impediment competition,” whereby the quality of products manufactured would create the demand for them, in a modern supply-side restatement of Say’s law. Under such institutional conditions the benefits of rapid growth would flow to all members of society. — Mark Blyth, Austerity, 365

Categorization

• DEFINE: Distinguishes ‘achievement competition’ from ‘impediment competition’ and ties ordoliberal growth theory to Say’s law.
• XREF: connects to: Ordoliberalism modernized liberalism while keeping its economics classical and supply-side. — Mark Blyth, Austerity: The History of a Dangerous…, 373

Broader Connections

• Ordoliberalism modernized liberalism while keeping its economics classical and supply-side. #corroborates (0.82) — Mark Blyth, Austerity, 373