Climate Change, Corona, War – Is the Social Market Economy Facing a Turning Point?

“Prosperity for all” – in Ludwig Erhard’s day, this promise was inextricably linked with the idea of the social market economy; today, it is as relevant as ever. Climatic, technological, and demographic change as well as changing international structures present the social mar-ket economy with major, complex challenges – and the coronavirus crisis and the war in Ukraine have exacerbated many of them. What reforms are needed to overcome these chal-lenges? Does the social market economy have to reinvent itself? How can it continue to keep its promise of “prosperity for all” in the future?

These will be the questions tackled at the opening conference of the new Ludwig Erhard ifo Center for Social Market Economy and Institutional Economics under the banner of “Climate Change, Coronavirus, War: Is the Social Market Economy at a Turning Point?” In a total of four panels, we will discuss key questions about the future of the social market economy and potential repercussions in light of current developments with researchers. How do crises change economics, politics, and society?