Assisting the Invisible Hand: Contested Relations Between by W. Dubbink PDF

By W. Dubbink

ISBN-10: 9048163536

ISBN-13: 9789048163533

ISBN-10: 9401707979

ISBN-13: 9789401707978

Modern liberal democracies are bothered through public difficulties during which the unfastened marketplace is not any blameless bystander. it's for that reason regularly stated that the marketplace needs to be managed. Assisting the Invisible Hand is an research into modern considering on controlling the industry, in particular with reference to the matter of facing environmental concerns. The implicit modes of considering in economics, political philosophy and administrative idea are exposed and criticized. The ebook contributes to modern perception by means of arguing that the difficulty of marketplace keep an eye on needs to be addressed by way of the family members among kingdom, industry and civil society. moreover, considering controlling the industry is so heavily concerning the beliefs of liberal democracy, this booklet stresses the normative dimensions of the marketplace keep an eye on factor. the location followed via the ebook is that the marketplace can't be managed via the nation by myself. This accountability might be shared among kingdom, industry and civil society.

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Extra info for Assisting the Invisible Hand: Contested Relations Between Market, State and Civil Society

Sample text

I employ the term ‘economism’ to describe this position. My use of this term is based on two assertions. On the one hand economism is the conviction that goods and/or values can only be compared against a clear and unambiguous scale of measurement. On the other hand, economism maintains that every objective, every value and/or every good can be transformed into an economic good, and that for this reason all human objectives, values and goods are commensurable and comparable in relation to the measuring rod of money (or other single-scale, quantitative, market-related measuring rods, like quantification in terms of utility units).

But the remedy is not to abandon that mechanism or to superimpose other instruments with which it is not readily cross-bred. Rather, the thing to do is to use prices themselves, as far as possible, as the most promising means to cure their own shortcomings. J. A. 1 MARKET FORCES AND YET MORE MARKET FORCES Concepts such as ‘market forces’ or ‘pricing’ occupy a prominent place in presentday thinking about sustainable development. From all quarters we are assailed by the message that we should be making the greatest possible use of the market in order to realize this public objective.

Hayek (1948) for example makes an important link between the idea of economic man and the value of the market mechanism. According to Hayek the market forces people to be productive, innovative and efficient. However, the neoclassical economists are the ones who go furthest in their appreciation of purely economic conduct. Within the neoclassical frame of mind, actions which are paternalistic or unselfish for example are actually undesirable on the market. Based on the assumption that each individual is most familiar with his own needs, unselfish actions are apt to result in an incorrect allocation of resources.

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Assisting the Invisible Hand: Contested Relations Between Market, State and Civil Society by W. Dubbink

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