Social and Economic Aspects of Ordoliberalism in Greece during the Economic Crisis (2010-2020)

Proceedings of The 6th International Academic Conference on Humanities and Social Sciences

Year: 2021


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Social and Economic Aspects of Ordoliberalism in Greece during the Economic Crisis (2010-2020)

Stylianos Ioannis Tzagkarakis



During the last decade Greece has experienced a multidimensional crisis and its social as well as economic results are still visible. Several studies have been published on the effects of the crisis and have provided useful material for assessing its causes, policies and effects. This research paper studies some factors, in which there has not been given the necessary emphasis. In this context, the effect of ordoliberalism on the formulation of crisis management policies in Greece is studied. This study focuses on both the social and economic implications through the analysis of secondary quantitative data and the political implications at the level of policy-making enforcement as well as the role of technocrats, through primary qualitative research on foreign and Greek policy makers and technocrats in Greece during the crisis. Thus, the focus specifically on the impact of austerity measures in the Greek social fabric – in a comparative perspective – is also conducted along with the study of the directions set by the international actors (Troika) in order to test the level that the specific social consequences are the outcome of ordoliberal directions. The main aim is to examine the role of ordoliberalism during the Eurozone crisis and to analyse the possible entanglements that still exist in order to effectively enhance the objective for achieving social Europe.

keywords:  ordoliberalism, crisis, Greece, social policy, technocracy.