The Relationship Between Capitalism and Democracy
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THE FREE-MARKET WELFARE STATE: Preserving Dynamism in a Volatile World
Policy Essay THE FREE-MARKET WELFARE STATE: Preserving Dynamism in a Volatile World Samuel Hammond1 Poverty and Welfare Policy Analyst Niskanen Center May 2018 INTRODUCTION welfare state” directly depresses the vote for reac- tionary political parties.3 Conversely, I argue that he perennial gale of creative destruc- the contemporary rise of anti-market populism in tion…” wrote the economist Joseph America should be taken as an indictment of our in- 4 Schumpeter, “…is the essential fact of adequate social-insurance system, and a refutation “T of the prevailing “small government” view that reg- capitalism.” For new industries to rise and flourish, old industries must fail. Yet creative destruction is ulation and social spending are equally corrosive to a process that is rarely—if ever—politically neu- economic freedom. The universal welfare state, far tral; even one-off economic shocks can have lasting from being at odds with innovation and economic political-economic consequences. From his vantage freedom, may end up being their ultimate guaran- point in 1942, Schumpeter believed that capitalism tor. would become the ultimate victim of its own suc- The fallout from China’s entry to the World Trade cess, inspiring reactionary and populist movements Organization (WTO) in 2001 is a clear case in against its destructive side that would inadvertently point. Cheaper imports benefited millions of Amer- strangle any potential for future creativity.2 icans through lower consumer prices. At the same This paper argues that the countries that have time, Chinese import competition destroyed nearly eluded Schumpeter’s dreary prediction have done two million jobs in manufacturing and associated 5 so by combining free-markets with robust systems services—a classic case of creative destruction. -
Neoliberalism, Higher Education, and the Knowledge Economy: from The
This article was downloaded by: On: 28 September 2010 Access details: Access Details: Free Access Publisher Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37- 41 Mortimer Street, London W1T 3JH, UK Journal of Education Policy Publication details, including instructions for authors and subscription information: http://www.informaworld.com/smpp/title~content=t713693402 Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism Mark Olssena; Michael A. Petersb a University of Surrey, UK b University of Glasgow, UK To cite this Article Olssen, Mark and Peters, Michael A.(2005) 'Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism', Journal of Education Policy, 20: 3, 313 — 345 To link to this Article: DOI: 10.1080/02680930500108718 URL: http://dx.doi.org/10.1080/02680930500108718 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.informaworld.com/terms-and-conditions-of-access.pdf This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, re-distribution, re-selling, loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. -
Markets Not Capitalism Explores the Gap Between Radically Freed Markets and the Capitalist-Controlled Markets That Prevail Today
individualist anarchism against bosses, inequality, corporate power, and structural poverty Edited by Gary Chartier & Charles W. Johnson Individualist anarchists believe in mutual exchange, not economic privilege. They believe in freed markets, not capitalism. They defend a distinctive response to the challenges of ending global capitalism and achieving social justice: eliminate the political privileges that prop up capitalists. Massive concentrations of wealth, rigid economic hierarchies, and unsustainable modes of production are not the results of the market form, but of markets deformed and rigged by a network of state-secured controls and privileges to the business class. Markets Not Capitalism explores the gap between radically freed markets and the capitalist-controlled markets that prevail today. It explains how liberating market exchange from state capitalist privilege can abolish structural poverty, help working people take control over the conditions of their labor, and redistribute wealth and social power. Featuring discussions of socialism, capitalism, markets, ownership, labor struggle, grassroots privatization, intellectual property, health care, racism, sexism, and environmental issues, this unique collection brings together classic essays by Cleyre, and such contemporary innovators as Kevin Carson and Roderick Long. It introduces an eye-opening approach to radical social thought, rooted equally in libertarian socialism and market anarchism. “We on the left need a good shake to get us thinking, and these arguments for market anarchism do the job in lively and thoughtful fashion.” – Alexander Cockburn, editor and publisher, Counterpunch “Anarchy is not chaos; nor is it violence. This rich and provocative gathering of essays by anarchists past and present imagines society unburdened by state, markets un-warped by capitalism. -
A Hayekian Restatement of Free Market Environmentalism
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics 1 Liberty, Markets and Environmental Values: A Hayekian Defence of Free Market Environmentalism Mark Pennington Department of Politics Queen Mary College, University of London [email protected] 2 Liberty, Markets and Environmental Values: A Hayekian Defence of Free Market Environmentalism Introduction In recent years the development of ‘free market environmentalism’ has marked a major advance in the relationship between the classical liberal tradition and the challenge to individualist institutions presented by the modern environmental movement. Building on the work of Coase and the New Institutional Economics free market environmentalism has demonstrated that, far from being the inevitable result of market institutions environmental problems are best explained by the absence of these very institutions. Notwithstanding these advances, however, free market environmentalism has failed to have a significant impact on the environmental movement. Indeed, in so far as there has been any reaction to proposals for the extension of private property rights, these have tended to be hostile. One of the reasons for this lack of progress stems from the differing social ontologies adopted by the proponents of environmental markets and the green political theorists and activists who tend to favour command and control models of environmental regulation. The former have a tendency to emphasise notions of rational self interest, utility maximisation and efficiency, whilst the latter focus on communitarian conceptions which emphasise a non-reductionist account of social interaction and a ‘moralistic’ approach to environmental issues that seeks to institutionalise a search for the ‘common good’. -
Adam Smith 1723 – 1790 He Describes the General Harmony Of
Adam Smith 1723 – 1790 He describes the general harmony of human motives and activities under a beneficent Providence, and the general theme of “the invisible hand” promoting the harmony of interests. The invisible hand: There are two important features of Smith’s concept of the “invisible hand”. First, Smith was not advocating a social policy (that people should act in their own self interest), but rather was describing an observed economic reality (that people do act in their own interest). Second, Smith was not claiming that all self-interest has beneficial effects on the community. He did not argue that self-interest is always good; he merely argued against the view that self- interest is necessarily bad. It is worth noting that, upon his death, Smith left much of his personal wealth to churches and charities. On another level, though, the “invisible hand” refers to the ability of the market to correct for seemingly disastrous situations with no intervention on the part of government or other organizations (although Smith did not, himself, use the term with this meaning in mind). For example, Smith says, if a product shortage were to occur, that product’s price in the market would rise, creating incentive for its production and a reduction in its consumption, eventually curing the shortage. The increased competition among manufacturers and increased supply would also lower the price of the product to its production cost plus a small profit, the “natural price.” Smith believed that while human motives are often selfish and greedy, the competition in the free market would tend to benefit society as a whole anyway. -
Law, Liberty and the Rule of Law (In a Constitutional Democracy)
Georgetown University Law Center Scholarship @ GEORGETOWN LAW 2013 Law, Liberty and the Rule of Law (in a Constitutional Democracy) Imer Flores Georgetown Law Center, [email protected] Georgetown Public Law and Legal Theory Research Paper No. 12-161 This paper can be downloaded free of charge from: https://scholarship.law.georgetown.edu/facpub/1115 http://ssrn.com/abstract=2156455 Imer Flores, Law, Liberty and the Rule of Law (in a Constitutional Democracy), in LAW, LIBERTY, AND THE RULE OF LAW 77-101 (Imer B. Flores & Kenneth E. Himma eds., Springer Netherlands 2013) This open-access article is brought to you by the Georgetown Law Library. Posted with permission of the author. Follow this and additional works at: https://scholarship.law.georgetown.edu/facpub Part of the Constitutional Law Commons, Jurisprudence Commons, Legislation Commons, and the Rule of Law Commons Chapter6 Law, Liberty and the Rule of Law (in a Constitutional Democracy) lmer B. Flores Tse-Kung asked, saying "Is there one word which may serve as a rule of practice for all one's life?" K'ung1u-tzu said: "Is not reciprocity (i.e. 'shu') such a word? What you do not want done to yourself, do not ckJ to others." Confucius (2002, XV, 23, 225-226). 6.1 Introduction Taking the "rule of law" seriously implies readdressing and reassessing the claims that relate it to law and liberty, in general, and to a constitutional democracy, in particular. My argument is five-fold and has an addendum which intends to bridge the gap between Eastern and Western civilizations, -
National Honor Society Liberty High School Chapter LHS Chapter of The
National Honor Society Liberty High School Chapter 1115 Linden Street Bethlehem, PA 18018 LHS Chapter of the National Honor Society A pplication Criteria and Requirements Criteria to Receive an Application: Students must have a 3.75 cumulative GPA at the end of their Sophomore or Junior year to receive an application at the beginning of their Junior or Senior year, respectively. How to Apply: Students will receive an application packet at the beginning of the school year in which they are eligible (Junior or Senior year). The application must be completely filled out and returned on the due date in September. The sections are as follows: Section I - Community Service Juniors applying must have at least 30 hours of community service completed (ie: 15 hours/year). Seniors applying must have at least 45 hours completed It is recommended that students complete all 60 hours of community service prior to applying at a minimum Section II - Essay Statement Demonstrate how you plan to incorporate the four pillars of the National Honor Society into your future experiences and endeavors: F our Pillars: I. Scholarship II: Leadership III: Service IV: Character Section III - Leadership Positions List any/all leadership positions you feel may be appropriate. The more positions listed, the better Section IV - Structured Extracurricular Activities/Work List any/all activities you feel are relevant. The more activities listed, the better. Section V - Teacher Recommendations Requirements Once Accepted: Attendance ALL meetings are mandatory unless otherwise noted. If you fail to come to a meeting without an excuse, you will have a meeting with Mr. -
5. What Matters Is the Motive / Immanuel Kant
This excerpt is from Michael J. Sandel, Justice: What's the Right Thing to Do?, pp. 103-116, by permission of the publisher. 5. WHAT MATTERS IS THE MOTIVE / IMMANUEL KANT If you believe in universal human rights, you are probably not a utili- tarian. If all human beings are worthy of respect, regardless of who they are or where they live, then it’s wrong to treat them as mere in- struments of the collective happiness. (Recall the story of the mal- nourished child languishing in the cellar for the sake of the “city of happiness.”) You might defend human rights on the grounds that respecting them will maximize utility in the long run. In that case, however, your reason for respecting rights is not to respect the person who holds them but to make things better for everyone. It is one thing to con- demn the scenario of the su! ering child because it reduces overall util- ity, and something else to condemn it as an intrinsic moral wrong, an injustice to the child. If rights don’t rest on utility, what is their moral basis? Libertarians o! er a possible answer: Persons should not be used merely as means to the welfare of others, because doing so violates the fundamental right of self-ownership. My life, labor, and person belong to me and me alone. They are not at the disposal of the society as a whole. As we have seen, however, the idea of self-ownership, consistently applied, has implications that only an ardent libertarian can love—an unfettered market without a safety net for those who fall behind; a 104 JUSTICE minimal state that rules out most mea sures to ease inequality and pro- mote the common good; and a celebration of consent so complete that it permits self-in" icted a! ronts to human dignity such as consensual cannibalism or selling oneself into slav ery. -
Some Worries About the Coherence of Left-Libertarianism Mathias Risse
John F. Kennedy School of Government Harvard University Faculty Research Working Papers Series Can There be “Libertarianism without Inequality”? Some Worries About the Coherence of Left-Libertarianism Mathias Risse Nov 2003 RWP03-044 The views expressed in the KSG Faculty Research Working Paper Series are those of the author(s) and do not necessarily reflect those of the John F. Kennedy School of Government or Harvard University. All works posted here are owned and copyrighted by the author(s). Papers may be downloaded for personal use only. Can There be “Libertarianism without Inequality”? Some Worries About the Coherence of Left-Libertarianism1 Mathias Risse John F. Kennedy School of Government, Harvard University October 25, 2003 1. Left-libertarianism is not a new star on the sky of political philosophy, but it was through the recent publication of Peter Vallentyne and Hillel Steiner’s anthologies that it became clearly visible as a contemporary movement with distinct historical roots. “Left- libertarian theories of justice,” says Vallentyne, “hold that agents are full self-owners and that natural resources are owned in some egalitarian manner. Unlike most versions of egalitarianism, left-libertarianism endorses full self-ownership, and thus places specific limits on what others may do to one’s person without one’s permission. Unlike right- libertarianism, it holds that natural resources may be privately appropriated only with the permission of, or with a significant payment to, the members of society. Like right- libertarianism, left-libertarianism holds that the basic rights of individuals are ownership rights. Left-libertarianism is promising because it coherently underwrites both some demands of material equality and some limits on the permissible means of promoting this equality” (Vallentyne and Steiner (2000a), p 1; emphasis added). -
Democratic Capitalism
Democratic Capitalism Why Political and Economic Freedom Need Each Other IAIN MURRAY The Competitive Enterprise Institute promotes the institutions of liberty and works to remove government-created barriers to economic freedom, innovation, and prosperity through timely analysis, effective advocacy, inclusive coalition- building, and strategic litigation. COMPETITIVE ENTERPRISE INSTITUTE 1310 L Street NW, 7th Floor Washington, DC 20005 202-331-1010 cei.org PROFILES IN CAPITALISM OCTOBER 2019 | NO. 4 Democratic Capitalism Why Political and Economic Freedom Need Each Other Iain Murray Competitive Enterprise Institute 2019 Murray: Democratic Capitalism 2 Murray: Democratic Capitalism EXECUTIVE SUMMARY Is capitalism destroying democracy? It is an old question that political thinkers have long wrestled with. Yet, it gained recent prominence with the publication of Duke University historian Nancy MacLean’s widely discussed book, Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America, which unleashed heated debate over its claim that libertarian economists, funded by capitalist billionaires, have worked to subvert American democracy over the past four decades. Critics of the free market contend that democracy, as they conceive it, should not be constrained. Yet, it turns out that American democracy is already enchained—by design. We have explicitly rejected the idea of “unfettered democracy.” We accept limitations on the democratic will of the majority in all sorts of areas. We do not allow a democratic majority to use its power to ban any form of political speech, to segregate their communities on the basis of race, or to impose religious views or obligations on others. These constraints on government are the political expression of rights. -
Rule of Law Freedom Prosperity
George Mason University SCHOOL of LAW The Rule of Law, Freedom, and Prosperity Todd J. Zywick 02-20 LAW AND ECONOMICS WORKING PAPER SERIES This paper can be downloaded without charge from the Social Science Research Network Electronic Paper Collection: http://ssrn.com/abstract_id= The Rule of Law, Freedom, and Prosperity Todd J. Zywicki* After decades of neglect, interest in the nature and consequences of the rule of law has revived in recent years. In the United States, the Supreme Court’s decision in Bush v. Gore has triggered renewed interest in the nature of the rule of law in the Anglo-American tradition. Meanwhile, economists have increasingly come to realize the importance of political and legal institutions, especially the presence of the rule of law, in providing the foundation of freedom and prosperity in developing countries. The emerging economies of Eastern Europe and the developing world in Latin America and Africa have thus sought guidance on how to grow the rule of law in these parts of the world that traditionally have lacked its blessings. This essay summarizes the philosophical and historical foundations of the rule of law, why Bush v. Gore can be understood as a validation of the rule of law, and explores the consequences of the presence or absence of the rule of law in developing countries. I. INTRODUCTION After decades of neglect, the rule of law is much on the minds of legal scholars today. In the United States, the Supreme Court’s decision in Bush v. Gore has triggered a renewed interest in the Anglo-American tradition of the rule of law.1 In the emerging democratic capitalist countries of Eastern Europe, societies have struggled to rediscover the rule of law after decades of Communist tyranny.2 In the developing countries of Latin America, the publication of Hernando de Soto’s brilliant book The Mystery of Capital3 has initiated a fervor of scholarly and political interest in the importance and the challenge of nurturing the rule of law. -
Quong-Left-Libertarianism.Pdf
The Journal of Political Philosophy: Volume 19, Number 1, 2011, pp. 64–89 Symposium: Ownership and Self-ownership Left-Libertarianism: Rawlsian Not Luck Egalitarian Jonathan Quong Politics, University of Manchester HAT should a theory of justice look like? Any successful answer to this Wquestion must find a way of incorporating and reconciling two moral ideas. The first is a particular conception of individual freedom: because we are agents with plans and projects, we should be accorded a sphere of liberty to protect us from being used as mere means for others’ ends. The second moral idea is that of equality: we are moral equals and as such justice requires either that we receive equal shares of something—of whatever it is that should be used as the metric of distributive justice—or else requires that unequal distributions can be justified in a manner that is consistent with the moral equality of persons. These twin ideas—liberty and equality—are things which no sound conception of justice can properly ignore. Thus, like most political philosophers, I take it as given that the correct conception of justice will be some form of liberal egalitarianism. A deep and difficult challenge for all liberal egalitarians is to determine how the twin values of freedom and equality can be reconciled within a single theory of distributive justice. Of the many attempts to achieve this reconciliation, left-libertarianism is one of the most attractive and compelling. By combining the libertarian commitment to full (or nearly full) self-ownership with an egalitarian principle for the ownership of natural resources, left- libertarians offer an account of justice that appears firmly committed both to individual liberty, and to an egalitarian view of how opportunities or advantages must be distributed.