Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics: 30 (Routledge Foundations of the Market Economy) - Image 1

Price loading...

Routledge Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics: 30 (Routledge Foundations of the Market Economy)

Name: Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics: 30 (Routledge Foundations of the Market Economy)
Brand: Routledge

Business & Economic History

Price History & Forecast

No Price Data Available

Price history will appear here once data is collected from Amazon.

Price Distribution

No price data available for histogram

Description

Free-market economics has attempted to combine efficiency and freedom by emphasizing the need for neutral rules and meta-rules. These efforts have only been partly successful, for they have failed to address the deeper, normative arguments justifying – and limiting – coercion. This failure has thus left most advocates of free-market vulnerable to formulae which either emphasize expediency or which rely upon optimal social engineering to foster different notions of the common will and of the common good. This book offers the reader a new perspective on free-market economics, one in which the defense of markets is no longer based upon the utilitarian claim that free markets are more efficient; rather, the defense of markets rests upon the moral argument that top-down coercive policy-making is necessarily in tension with the rights-based notion of justice typical of the Western tradition. In arguing for a consistent moral basis for the free-market view, we depart from both the Austrian and neoclassical traditions by acknowledging that rationality is not a satisfactory starting point. This rejection of rationality as the complete motivator for human economic behaviour throws constitutional economics and the law-and-economics tradition into new relief, revealing these approaches as governed by considerations derived by various notions of social efficiency, rather than by principles consistent with individual freedom, including freedom to choose. This book shows that the solution is in fact a better understanding of the lessons taught by the Scottish Enlightenment: the role of the political context is to ensure that the individual can pursue his own ends, free from coercion. This also implies individual responsibility, respect for somebody else’s preferences and for his entrepreneurial instincts. Social virtue is not absent from this understanding of politics, but rather than being defined through the priorities of policy-makers, it emerges as the outcome of interaction among self-determining individuals. The strongest and most consistent case for free-market economics, therefore, rests on moral philosophy, not on some version of static-efficiency theorizing. This book should be of interest to students and researchers focussing on economic theory, political economics and the philosophy of economic thought, but is also written in a non-technical style making it accessible to an audience of non-economists.

Product Specifications

Brand: Routledge
Format: hardcover
ASIN: 0415588545
Category: Books > Subjects > Business, Finance & Law > Biographies & Histories > Business & Economic History
Domain: Amazon UK
Release Date: 02 June 2011
Listed Since: 31 January 2011

Barcode

No barcode data available

Routledge Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics: 30 (Routledge Foundations of the Market Economy)

Price History & Forecast

No Price Data Available

Price Distribution

Description

Product Specifications

Barcode

Similar Products You Might Like

Routledge - The Market: Ethics, Knowledge and Politics

Power and Principle in the Market Place: On Ethics and Economics

The Market and Public Choices: An Ethical Assessment (Routledge Revivals)

The Invisible Hand and the Common Good (Ethical Economy)

The Invisible Hand and the Common Good (Ethical Economy)

The Myth of the Global Market: A Marxist Critique of Neoliberalism (Routledge Frontiers of Political Economy)

Robust Political Economy: Classical Liberalism and the Future of Public Policy (New Thinking in Political Economy series)

Markets, Deliberation and Environment (Economics as Social Theory)

Routledge Mind, Society, and Human Action - Economics Book

The Political Economy Reader: Contending Perspectives and Contemporary Debates

A New Principles of Economics: The Science of Markets

Economics, Ethics and the Market: Introduction and Applications (Routledge Frontiers of Political Economy)

Ethics and Economic Theory (Routledge Frontiers of Political Economy)

Suspicions of Markets: Critical Attacks from Aristotle to the Twenty-First Century

Routledge A Market Process Theory of the Firm - Economics Book

Routledge Ethics and Economics: New Perspectives - Book

Routledge Economics, Sustainability, and Democracy Book

The Global Free Trade Error: The Infeasibility of Ricardo’s Comparative Advantage Theory (Routledge Frontiers of Political Economy)

Political Economy and Policy Analysis

Markets, Ethics, and Business Ethics

The Moralization of the Markets

Economics, Ethics and Power: From Behavioural Rules to Global Structures (Routledge Frontiers of Political Economy)

Market Killing: What the free market does and what social scientists can do about it

Socio-Economics: An Interdisciplinary Approach: Ethics, Institutions, and Markets