On the Characteristics of the Free Market in a Cooperative Society
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Competition in a Social Market Economy
Competition in a Social Market economy Speech by Commissioner Monti at the Conference of the European Parliament and the European Commission on ‘Reform of European Competition law’ in Freiburg on 9/10 November 2000 Ladies and Gentlemen, Let me take my turn to welcome you to this conference that has been jointly organised by the European Parliament and the European Commission to discuss the Reform of EC competition policy. The Commission has launched a reform that aims at overhauling the whole of the competition law framework in order to ensure more efficient enforcement of the European competition rules and thereby reinforce their effect. A reform of this scope is an excellent opportunity to re-visit and to re-examine what is basic to our understanding. The venue here at Freiburg of course reminds us of the Freiburg School. The Freiburg School has made a major contribution to shaping the post-war economy as one of the sources of the concept of Soziale Marktwirtschaft – Social market economy. When we take a close look at what ‘Social Market Economy’ stands for, we find that we are in the presence of one of those basic concepts to which many policy choices can be traced back. We also realise that we are in the presence of strikingly modern ideas. Having said this, it is not my intention to discuss here the issue whether ‘Social Market economy’ is a model for Europe1 or whether the concept of Social Market Economy and the historic experience it encompasses is a major building block of what we sometimes call the ‘European Model’. -
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. -
Libertarianism Karl Widerquist, Georgetown University-Qatar
Georgetown University From the SelectedWorks of Karl Widerquist 2008 Libertarianism Karl Widerquist, Georgetown University-Qatar Available at: https://works.bepress.com/widerquist/8/ Libertarianism distinct ideologies using the same label. Yet, they have a few commonalities. [233] [V1b-Edit] [Karl Widerquist] [] [w6728] Libertarian socialism: Libertarian socialists The word “libertarian” in the sense of the believe that all authority (government or combination of the word “liberty” and the private, dictatorial or democratic) is suffix “-ian” literally means “of or about inherently dangerous and possibly tyrannical. freedom.” It is an antonym of “authoritarian,” Some endorse the motto: where there is and the simplest dictionary definition is one authority, there is no freedom. who advocates liberty (Simpson and Weiner Libertarian socialism is also known as 1989). But the name “libertarianism” has “anarchism,” “libertarian communism,” and been adopted by several very different “anarchist communism,” It has a variety of political movements. Property rights offshoots including “anarcho-syndicalism,” advocates have popularized the association of which stresses worker control of enterprises the term with their ideology in the United and was very influential in Latin American States and to a lesser extent in other English- and in Spain in the 1930s (Rocker 1989 speaking countries. But they only began [1938]; Woodcock 1962); “feminist using the term in 1955 (Russell 1955). Before anarchism,” which stresses person freedoms that, and in most of the rest of the world (Brown 1993); and “eco-anarchism” today, the term has been associated almost (Bookchin 1997), which stresses community exclusively with leftists groups advocating control of the local economy and gives egalitarian property rights or even the libertarian socialism connection with Green abolition of private property, such as and environmental movements. -
The Need of State? American Anarcho-Capitalism
Ad Americam Journal of American Studies Vol. 10, 2009 ISSN 1896-9461 ISBN 978-83-233-2905-3 Magdalena Modrzejewska THE NEED OF STATE? AMERICAN ANARCHO-CAPITALISM The paper examines the theory of anarcho-capitalists philosophers David Friedman and Murray Rothbard. Both philosophers argue for a society based in voluntary trade of private property (including money, consumer goods, land, and capital goods) and services (includ- ing protection services) in order to maximize individual liberty and prosperity. Moreover, they maintain that order exists in the pre-state situation, and any form of compulsion from the government/state violates that natural order. The paper examines how society can func- tion in such an anarchic, non-state situation (especially how the law and legal system can arise and exist without a state/government). Libertarians created a vision of an individual as a rational being, with a broad range of rights bestowed upon him/her, free from any form of external coercion. Therefore, they postulated that all relations between individuals should be established on volun- tary ground. Consequently, they faced the vital question of whether the existence of a state is required at all, and if so – how we could justify the rise of a state without the violation of the individual rights. In their reflection about the shape of the state, libertarians use methodological an- archism.1 “In political philosophy this method means that, as a starting point for their research, they use the state of nature as described by Locke or Hobbes, associated with anarchy, and then they show the possibility of overcoming such an anarchy and reaching in a rational manner the just social state” (Miklaszewska 1994: 21). -
Breaking the Mould: an Institutionalist Political Economy Alternative to the Neoliberal Theory of the Market and the State Ha-Joon Chang, May 2001
Breaking the Mould An Institutionalist Political Economy Alternative to the Neoliberal Theory of the Market and the State Ha-Joon Chang Social Policy and Development United Nations Programme Paper Number 6 Research Institute May 2001 for Social Development The United Nations Research Institute for Social Development (UNRISD) thanks the governments of Denmark, Finland, Mexico, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom for their core funding. Copyright © UNRISD. Short extracts from this publication may be reproduced unaltered without authorization on condition that the source is indicated. For rights of reproduction or translation, application should be made to UNRISD, Palais des Nations, 1211 Geneva 10, Switzerland. UNRISD welcomes such applications. The designations employed in UNRISD publications, which are in conformity with United Nations practice, and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of UNRISD con- cerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The responsibility for opinions expressed rests solely with the author(s), and publication does not constitute endorse- ment by UNRISD. ISSN 1020-8208 Contents Acronyms ii Acknowledgements ii Summary/Résumé/Resumen iii Summary iii Résumé iv Resumen v 1. Introduction 1 2. The Evolution of the Debate: From “Golden Age Economics” to Neoliberalism 1 3. The Limits of Neoliberal Analysis of the Role of the State 3 3.1 Defining the free market (and state intervention) 4 3.2 Defining market failure 6 3.3 The market primacy assumption 8 3.4 Market, state and politics 11 4. -
The Role of Private Property Rights and Ethics in the Market Economy
UNLV Retrospective Theses & Dissertations 1-1-1994 In defense of private property: The role of private property rights and ethics in the market economy Iftikhar Ahmed University of Nevada, Las Vegas Follow this and additional works at: https://digitalscholarship.unlv.edu/rtds Repository Citation Ahmed, Iftikhar, "In defense of private property: The role of private property rights and ethics in the market economy" (1994). UNLV Retrospective Theses & Dissertations. 371. http://dx.doi.org/10.25669/cpxp-v4in This Thesis is protected by copyright and/or related rights. It has been brought to you by Digital Scholarship@UNLV with permission from the rights-holder(s). You are free to use this Thesis in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s) directly, unless additional rights are indicated by a Creative Commons license in the record and/ or on the work itself. This Thesis has been accepted for inclusion in UNLV Retrospective Theses & Dissertations by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact [email protected]. INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely afreet reproduction. -
The Market Economy of the U.S. Constitution
HOW DO CONSTITUTIONS SHAPE ECONOMIC SYSTEMS? LESSON 1 ACTIVITY 1.1 THE MARKET ECONOMY OF THE U.S. CONSTITUTION Directions: Read Part A and Part B. Use information from Part A and B to complete the grid in Part C. Part A. Characteristics of a Market Economy 1. Private Property Labor resources, natural resources, capital resources (e.g., equipment and buildings), and the goods and services produced in the economy are largely owned by private individuals and private institutions, not by government. Private ownership combined with the freedom to negotiate legally binding contracts permits people, within very broad limits, to obtain and use the resources they choose. 2. Freedom of Enterprise and Choice Private entrepreneurs are free to obtain and organize resources for the production of goods and services, and to sell goods and services in markets of their choice. Consumers are at liberty to buy the goods and services that best satisfy their economic wants. Workers are free to seek any jobs for which they are qualified. 3. Motive of Self-Interest The “Invisible Hand” that is the driving force in a market economy is each individual pursuing his or her self-interest. Consumers aim to get the greatest satisfaction from their purchases; entre- preneurs try to achieve the highest profits for their firms; workers want the highest possible wages and salaries; and owners of property attempt to get the highest possible prices from the use, rent, or sale of their resources. 4. Competition Economic competition means that buyers and sellers act independently in the marketplace. Buyers and sellers are free to enter or leave any market as they choose. -
The Essential JOHN STUART MILL the Essential DAVID HUME
The Essential JOHN STUART MILL The Essential DAVID HUME DAVID The Essential by Sandra J. Peart Copyright © 2021 by the Fraser Institute. All rights reserved. No part of this book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical articles and reviews. The author of this publication has worked independently and opinions expressed by him are, therefore, his own, and do not necessarily reflect the opinions of the Fraser Institute or its supporters, directors, or staff. This publication in no way implies that the Fraser Institute, its directors, or staff are in favour of, or oppose the passage of, any bill; or that they support or oppose any particular political party or candidate. Printed and bound in Canada Cover design and artwork Bill C. Ray ISBN 978-0-88975-616-8 Contents Introduction: Who Was John Stuart Mill? / 1 1. Liberty: Why, for Whom, and How Much? / 9 2. Freedom of Expression: Learning, Bias, and Tolerance / 21 3. Utilitarianism: Happiness, Pleasure, and Public Policy / 31 4. Mill’s Feminism: Marriage, Property, and the Labour Market / 41 5. Production and Distribution / 49 6. Mill on Property / 59 7. Mill on Socialism, Capitalism, and Competition / 71 8. Mill’s Considerations on Representative Government / 81 Concluding Thoughts: Lessons from Mill’s Radical Reformism / 91 Suggestions for Further Reading / 93 Publishing information / 99 About the author / 100 Publisher’s acknowledgments / 100 Supporting the Fraser Institute / 101 Purpose, funding, and independence / 101 About the Fraser Institute / 102 Editorial Advisory Board / 103 Fraser Institute d www.fraserinstitute.org Introduction: Who Was John Stuart Mill? I have thought that in an age in which education, and its improvement, are the subject of more, if not of profounder study than at any former period of English history, it may be useful that there should be some record of an education which was unusual and remarkable. -
Unblocking a Free Market Perspective in Labor Economics
Etica & Politica / Ethics & Politics, X, 2008, 2, pp. 236-247 Unblocking a Free Market Perspective in Labor Economics Per Bylund University of Missouri [email protected] 0. Introduction In Labor Economics from a Free Market Perspective: Employing the Unemployable (2008) Walter Block presents a seemingly comprehensive free market perspective on the economics of the labor market. From this perspective Block discusses the economics of wage determination and the minimum wage’s effects on the labor market; the economic impact of labor unions and unionized regulation as well as the economics of unemployment insurance and academic tenure; and he touches on immigration, redistributive justice, and slavery reparations. There should be no surprise that the free market perspective allows Block to argue that regulation and intervention in the market cause imbalances and disequilibria and are therefore economically inefficient and undesireable. But Block goes one step further and argues that all kinds of regulation or tampering with a free market setting for voluntary interaction of individuals are simply wrong. There is no doubt that Labor Economics from a Free Market Perspective is a very provocative book. On the one hand, it is a treatise on labor economics covering basic economic truths such as the determination of wages and the effects in the labor market of enforced minimum wage laws and unionism. Just like in Block’s 1976 book Defending the Undefendable, from which the sub title “Employing the Unemployable” seems to be borrowed, the author investigates well-known institutions and offers thought-provoking arguments based on distinctly economic reasoning. The difference is that Block does not pick heavily disliked social phenomena to which he offers strong arguments in favor, which is the case in Defending the Undefendable, but argues fiercely against generally accepted and commonly advocated political solutions to perceived market problems. -
Explanatory Notes Are Associated with the Presentation of the Same Title)
SOCIAL MARKET ECONOMY (These explanatory notes are associated with the presentation of the same title) 1.- DEFINITIONS OF THE SOCIAL MARKET ECONOMY: Social market economy is balancing both the market economy, presented as an indisputable and unsurpassable universal concept, and the concern for social justice. This economic model, implemented in 1948 by the Federal Republic of Germany, is the result of the synthesis of some economic analysis made in the 1930 and the political will of the founding fathers of the FRG. Thus, the social market economy is not a sort of third way between capitalism without limits and collectivist communism, but aims to combine, on the basis of a competitive economy, private initiative and social progress. In this model, it is the state that explicitly guarantees the social and economic order, the former based on liberalism, which requires a state with a strong regulatory authority. This will to reconcile the apparently contradictory elements may appear as the major innovative essence of the social market economy. The social market economy is not a completed system, but an evolving concept which remains an important factor in political and social cohesion of the European Union. 2.- SOCIAL ECONOMIC MARKET: AN EVOLVING CONCEPT In 1949, Ludwig Erhard becomes minister of economy and forges the concept of social market economy (Soziale Marktwirtschaft). The social market economy became, in the early 1950s, the main idea of the politics of FRG. Initially a simple idea, the concept was progressively implemented in the -
The Political Economy of Capitalism
07-037 The Political Economy of Capitalism Bruce R. Scott Copyright © 2006 by Bruce R. Scott Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. #07-037 Abstract Capitalism is often defined as an economic system where private actors are allowed to own and control the use of property in accord with their own interests, and where the invisible hand of the pricing mechanism coordinates supply and demand in markets in a way that is automatically in the best interests of society. Government, in this perspective, is often described as responsible for peace, justice, and tolerable taxes. This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided by political authorities, i.e. governments. In this second perspective capitalism is a three level system much like any organized sports. Markets occupy the first level, where the competition takes place; the institutional foundations that underpin those markets are the second; and the political authority that administers the system is the third. While markets do indeed coordinate supply and demand with the help of the invisible hand in a short term, quasi-static perspective, government coordinates the modernization of market frameworks in accord with changing circumstances, including changing perceptions of societal costs and benefits. In this broader perspective government has two distinct roles, one to administer the existing institutional frameworks, including the provision of infrastructure and the administration of laws and regulations, and the second to mobilize political power to bring about modernization of those frameworks as circumstances and/or societal priorities change. -
Country Development and Transition to Free Market Economy
Western Michigan University ScholarWorks at WMU International Conference on African Center for African Development Policy Development Archives Research 8-2007 Leadership Perspective: Country Development and Transition to Free Market Economy Kinfu Adisu Grand Valley State University Follow this and additional works at: https://scholarworks.wmich.edu/africancenter_icad_archive Part of the African Studies Commons, and the Economics Commons WMU ScholarWorks Citation Adisu, Kinfu, "Leadership Perspective: Country Development and Transition to Free Market Economy" (2007). International Conference on African Development Archives. 109. https://scholarworks.wmich.edu/africancenter_icad_archive/109 This Paper is brought to you for free and open access by the Center for African Development Policy Research at ScholarWorks at WMU. It has been accepted for inclusion in International Conference on African Development Archives by an authorized administrator of ScholarWorks at WMU. For more information, please contact wmu- [email protected]. 1 Leadership perspective: Country development and transition to free market economy. Kinfu Adisu Grand Valley State University Abstract In the following essay, the author will examine the need for a clear understanding of the transition process and economic development in Ethiopia. The country’s move towards a free market economy will be critically analyzed as an important step to fight poverty. This will also raise the question of what policies need to be changed to make the nation competitive. A case method is taken into consideration to examine various experiences from African and Asian developing nations. The analysis will be from leadership perspective and takes a business approach to examining the issues and primarily utilizes free market transitional theories. The following factors are carefully examined in the study of transition to market economy: 1- Porter’s Diamond 2) Higher education 2) Present policy and changes needed to accommodate this transition process.