“…From ordoliberal Ordnungspolitik to new classical macroeconomics and public choice, from Hayek’s ‘constitution of liberty’ to Vanberg’s ‘
constitutional political economy’, an institutional agenda has emerged around a number of key tenets: enhancing the competition between jurisdictions through (state and international) federalism; safeguarding the competitive functioning of the market through supra-legislative rules; limiting fiscal policies and disciplining public spending through balanced budget rules; neutralising monetary policy through independent and price stability-oriented central banks. …”
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