It was clear to the intellectuals of the 1930s that the choice was not between a governed nation and an ungoverned world economy. One of the surprises in the narrative I pres­ent may be to find thinkers like Hayek and Mises, who are commonly described as libertarian, speaking matter-­of-­factly about the need for vari­ous forms of international and even global governance. The withering away of the relative influence of national states was always to be accompanied by the corresponding strengthening of supranational institutions. The core of ordoglobalism is its own version of what Polanyi called re-­embedding the market. The crucial difference between him and the neoliberals is the ends to which the market is being re-­embedded. For Polanyi, it was to restore a mea­sure of humanity and social justice. For neoliberals, it was to prevent state proj­ects of egalitarian re­distribution and secure competition, alternatively defined as the optimal functioning of the price-­ signaling system.

Quinn Slobodian, Globalists, loc. 79