Giersch has been considered a modern Keynesian economist in Germany, but his work displayed a decisive swerve towards supply-side economics and Austrian perspectives from the 1970s onward. Even before this redirection he was personally close to Hayek and maintained a friendship with him throughout his life.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 293