All human beings develop a certain view on the world. Inhabitants of the same country are likely to develop similar worldviews. The common part of these views constitutes the country’s national culture. Consequently, academic economists, policymakers, and the population at large are consistently exposed to the same opinions on the preferred way of organizing an economy. This book explores the economic impacts of these shared cultural values, focusing on the economies of the United States of America, Germany, and France.

These three countries broadly represent three different types of economic organization and their corresponding economic ideologies: a free market economy, a coordinated market economy, and a hierarchical market economy. The contributors to this edited volume have examined the extent to which the shared worldviews between academic economists, policymakers, and the wider population impact these economies. In particular, the chapters investigate the consequences for the design of the labor market, the financial system, competition policy, and monetary policy. The work also explores the extent to which the shared views on national culture and economic systems and policies in these countries contribute to the population’s well-being overall.

This book makes an invaluable contribution to the literature on comparative economics, economic policy, well-being and cultural economics.

part Part I|32 pages

Setting the stage

chapter 1|12 pages

Introduction and motivation

ByEelke de Jong

chapter 2|18 pages

National culture in the three types of market economies

ByEelke de Jong, Annemiek Schilpzand

part Part II|62 pages

Economic ideas

chapter 4|24 pages

Markets, morality, and human flourishing in the ordoliberal tradition

ByRoland Fritz, Nils Goldschmidt

chapter 5|15 pages

The market in the hierarchical market tradition

The case of post-war French economic thought 1
ByIvan Boldyrev

part Part III|94 pages


chapter 6|25 pages

Three varieties of labour markets

Three varieties of human flourishing?
ByLei Delsen

chapter 7|22 pages

Do national financial systems still reflect national values?

The case of the United States, Germany, and France 1
ByEelke de Jong

chapter 9|19 pages

Central bank independence and monetary policy in the United States, Germany, and France

Have they converged?
ByEelke de Jong

part Part IV|18 pages

Concluding remarks

chapter 10|16 pages

Conclusions and discussion

ByEelke de Jong