Gerhard Wegner construes the meaning of economic liberalism from the perspective of Rawls' political liberalism. Hayek's theory of spontaneous order undergoes a reinterpretation: it becomes the legitimate ideology critique of legitimate political preferences.

Unlike classical economic liberalism which advocates the economic interests of citizens against a non-democratic ruler, its modern followers address liberal policy norms to citizens being the co-authors of politics. Democracy revises the preconditions of policy norms deriving from liberal economic theory. How can a policy conception uphold its normative status given that the majority in any European state would reject the minimal state? To this end Gerhard Wegner construes the meaning of economic liberalism from the perspective of Rawls' political liberalism. Hayek's theory of spontaneous order undergoes a reinterpretation: it becomes the legitimate ideology critique of legitimate political preferences. The author shows how political preferences lack consistency given the evolutionary character of market process. Modern economic liberalism thus inaugurates a dialogue partner for the public which has become disenchanted with its welfare expectations.

Autorentext
ist Inhaber des Lehrstuhls für Institutionenökonomie und Wirtschaftspolitik an der Staatswissenschaftlichen Fakultät, Universität Erfurt.