Free market morality: the political economy of the Austrian school

1990 ◽  
Vol 27 (09) ◽  
pp. 27-5228-27-5228
Keyword(s):  
Political Economy ◽  
Free Market ◽  
Austrian School ◽  
The Political

scholarly journals POPULAR MAGAZINES, NEW LIBERAL DISCOURSE AND AMERICAN DEMOCRACY, 1890s–1914

2017 ◽  
Vol 16 (2) ◽  
pp. 121-142
Author(s):  
Matthew Schneirov
Keyword(s):  
Political Economy ◽  
Middle Class ◽  
Mass Culture ◽  
Free Market ◽  
Capitalist Society ◽  
The Political ◽  
New Middle Class ◽  
Corporate Capitalism ◽  
Popular Magazines ◽  
Mass Circulation

The study of the mass circulation “popular magazine” during the Gilded Age and Progressive Era was revived during the 1990s as part of the emerging fields of gender studies, consumer studies, and the study of the new middle class. Richard Ohmann's seminal work viewed these magazines through the lens of the political economy and class relations of an emerging corporate capitalist society and explored the relationship between mass culture and the political economy of capitalism. This paper reexamines the connection between a national mass culture, the new middle class, and an emerging corporate capitalist society through the lens of post-structuralist discourse theory. Corporate capitalism is conceptualized as in part a discourse, the new liberalism, which incorporated or rearticulated populist and socialist discourses and in doing so temporarily won the consent of the capitalist class, middle classes, and segments of the working class. Through the pages of popular magazines readers were offered pieces of a new discourse that embraced corporations rather than the “free market,” women's entry into public life, and new constructions of the self. During the muckraking era, elements of socialism and populism were integrated into mainstream American culture. Overall, the essay argues that a discourse perspective on popular magazines can open up new perspectives on corporate capitalism and the new liberalism. While corporate capitalism marked the decline of the producer–republican tradition, it also marked the emergence of an American social democratic tradition, a mixture of capitalist and socialist social formations.

Economy

Religion ◽  
2018 ◽  
pp. 89-103
Author(s):  
David Chidester
Keyword(s):  
Political Economy ◽  
Free Market ◽  
American Petroleum Institute ◽  
Cultural Economy ◽  
The Political ◽  
Sacred Values ◽  
Animated Film ◽  
Free Market Capitalism ◽  
Economy Of The Sacred ◽  
Market Capitalism

This chapter explores possibilities for locating religious formations at the intersections of culture and economy. Not solely the preserve of professional economists, economy is a term that has expanded in scope to include economies of signs and desires that generate values beyond the pricing mechanisms of the modern capitalist market. To illustrate how religion can be situated in a cultural economy, this chapter focuses on how one animated film, Destination Earth (1956), sponsored by the American Petroleum Institute, serves to illustrate a political economy of the sacred in which the oppression of communist collectivism is opposed to the freedom promised by American free-market capitalism. Viewing this film provides an occasion for highlighting three features of the political economy of the sacred: mediations between economic and sacred values; mediations between economic scarcity and sacred surplus; and mediations among competing claims to legitimate ownership of the sacred.

scholarly journals A Loosening Grip: Why Do Autocracies Engage in the Neoliberalization of Their Welfare Sectors?

2021 ◽  
Vol 22 (1) ◽  
pp. 140-164
Author(s):  
Ilia Viatkin ◽  
Kristina Komarova
Keyword(s):  
Political Economy ◽  
Public Sector ◽  
Free Market ◽  
Qualitative Comparative Analysis ◽  
Authoritarian Regimes ◽  
The Political ◽  
Modernization Theory ◽  
Departure Point ◽  
The Public ◽  
Theoretical Perspectives

Despite the wealth of studies on neoliberalism, research on why authoritarian states engage in processes of neoliberalization remains scarce. Therefore, our article seeks to explore why autocracies use neoliberal power practices, which, as suggested by Foucauldian governmentality approach to neoliberalism, are understood as governance techniques aimed primarily at disciplining and controlling populations through promoting the free market as a key form of societal organization. Empirically, these power practices can manifest in a state’s withdrawal from the provision of welfare services. However, scholars have argued that control over the public sector is essential to the maintenance of authoritarian regimes, and hence, governments must have compelling reasons to opt for its neoliberalization. In this study, we employ three mutually nonexclusive theoretical perspectives that suggest incentives that may motivate autocrats to retreat from the welfare sector; these are the authoritarian legitimation, authoritarian modernization, and political economy perspectives. By means of a fuzzy-set qualitative comparative analysis, we tested the foregoing theories on a sample of 42 autocracies active during 1980–2005. The results revealed that authoritarian modernization theory has the highest explanatory capacity, as it identifies two distinct pathways to public sector neoliberalization—internal and external policy considerations or one of the two—while the political economy perspective was an important theoretical concern in several cases. Overall, our paper contributes to research on the governmentality approach to neoliberalism and serves as a departure point for further investigations into neoliberal authoritarianism.

The Political Economy of Open Federalism

2007 ◽  
Vol 40 (2) ◽  
pp. 417-437 ◽  
Author(s):  
Adam Harmes
Keyword(s):  
Political Economy ◽  
Free Market ◽  
Think Tanks ◽  
The Political ◽  
James Buchanan ◽  
Social Activists ◽  
Business Interests ◽  
Milton Friedman ◽  
Nobel Laureates ◽  
Lock In

Abstract.This article examines the federal Conservative party's notion of “open federalism” from a political economy perspective. In doing so, it argues that open federalism will appeal to business interests and not to unions and social activists, because it is consistent with the neoliberal approach to federalism which seeks to lock in free market-oriented policies. To demonstrate this point, the article draws on the work of neoliberal intellectuals—including Nobel laureates Friedrich von Hayek, Milton Friedman and James Buchanan—on “market-preserving federalism” and compares it with the key principles of open federalism and those advocated by business lobby groups and think tanks.Résumé.Cet article examine la notion de “ fédéralisme ouvert ” adoptée par le Parti conservateur fédéral dans une perspective d'économie politique. Il avance que le fédéralisme ouvert plaira au milieu des affaires et déplaira aux syndicats et aux militants sociaux parce qu'il concorde avec la conception néolibérale du fédéralisme qui vise à instituer des politiques compatibles avec l'économie de marché. La démonstration s'appuie sur les travaux de penseurs néolibéraux—notamment les lauréats du prix Nobel, Friedrich von Hayek, Milton Friedman et James Buchanan—sur le concept d'un fédéralisme qui préserve le marché (market-preserving federalism) et compare ce concept aux principes de base du fédéralisme ouvert et à ceux que prônent les groupes de pression et les analystes du milieu des affaires.

scholarly journals Francesco Ferrara, il primo degli economisti cafoscarini

2018 ◽  
Author(s):  
Riccardo Faucci
Keyword(s):  
Political Economy ◽  
Economic Policy ◽  
Economic Analysis ◽  
Free Market ◽  
Favorable Attitude ◽  
The Political ◽  
New School ◽  
Social Interventions ◽  
Political Implications

The paper presents the important personality of the great Italian economist Francesco Ferrara who has been the first Director of the new School of Commerce founded in Venice in 1868. The paper is divided in two parts: the first part presents the main features of Francesco Ferrara as an economist, showing how he was clearly a supporter of a free-market oriented vision of the economic analysis and of the economic policy, not liking at all a vision of the economic analysis separated from the political implications, but definitely favouring a political economy vision. He was a sharp opponent of socialism, although admiring the logical power of Marx’s thought, but not Marxian ideas. But he was also an opponent of intermediate visions leading to mediations in the field of economic policy. His rather radical positions led him to resign from the role of minister of Finance. In the second part the paper shows how Ferrara accepted the proposal of Luigi Luzzatti to be appointed as director of new School of Commerce of Ca’ Foscari in summer 1868; the paper shows how the relations between Ferrara and Luzzatti were characterized by polemical moments, both because of the lines followed by Ferrara in appointing the professors of the new school and because of the openness shown by Luzzatti, and not liked at all by Ferrara, towards policies showing a favorable attitude towards social interventions. Eventually the disagreements were solved. Finally, the paper shows how Ferrara succeeded in appointing at Ca’ Foscari some of the most important Italian economists of his time, such as Maffeo Pantaleoni.

The Political Economy of American Transportation

2009 ◽  
Vol 10 (1) ◽  
pp. 90-97
Author(s):  
Mark Rose
Keyword(s):  
Political Economy ◽  
Free Market ◽  
The Political ◽  
Market System ◽  
Free Market System ◽  
Held Back

Throughout its history, the free market system has been held back, not so much by its own economic deficiencies as Marxists would have it, but because of its reliance on political goodwill for its infrastructure.

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