What is "ordoliberalism"

n. (context politics English) a form of political philosophy that emphasizes on maximizing the potential of the free market to produce results

Ordoliberalism is the German variant of social liberalism that emphasizes the need for the state to ensure that the free market produces results close to its theoretical potential.

Ordoliberal ideals (with modifications) drove the creation of the post- World War II German social market economy and its attendant Wirtschaftswunder. However, ordoliberals promoted the concept of the social market economy, and this concept promotes a strong role for the state with respect to the market, which is in many ways different from the ideas that are nowadays connected with the term neoliberalism.

The term "Ordoliberalism" was coined in 1950 by Hero Moeller, and refers to the academic journal ORDO.