Summary
Market fundamentalism deserves even more analysis and opposition, and this paper will think about it in the form of neoliberalism. Market fundamentalism, central in ideologies like neoliberalism, holds that market exchange is the best guide for all human actions; it maintains that the free market is the only true ethical, or prudential, guide to life. The market fundamentalism of neoliberalism dominates mainstream political economy. Friedrich von Hayek, an economist, had strong associations with Ludwig von Mises and the Austrian school of economics, which shared a neo-classical view of economics. Hayek is a market fundamentalist in the sense that he regards the market as a self-organizing system, a spontaneous order or catallaxy. It is the result of human action but not design: people create the conditions in which the system arranges itself.
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Extract
See Spot Run
Off you go, Spot! Don't get lost.
Not in there. Spot.Watch out!What's in the coop, Spot? (Hill, 1981)Market fundamentalism deserves even more analysis and opposition, and this paper will think about it in the form of neoliberalism. But I think that the See Spot Run talk that we have in mainstream governance theorizing (e.g., within the constraints of mainstream PA discourse, within mainstream economic discourse, within the dominant discourse of political economy) stands in the way; there's not only a misallocation of energy toward what is inside the boundaries of the traditional disciplines but also distortion of content.Market fundamentalism, central in ideologies like neoliberalism, holds that market exchange is the best guide for all human actions; it maintains that the free market is the only true ethical, or prudential, guide to life. Work has already been done in PA on this topic, e.g., Thorne & Kouzmin, 2006. But the suggestion is that we need even more.Why Should we Think About Neoliberalism?Neoliberalism, arguably, is a tall story because it exaggerates beyond reason the real positives of the market system, and its neo-economic ideology inflicts collateral damage on government and on much else. Spot, if governance were an animal called Spot, should watch out for what's in the coop - as advised in Spot's First Walk, quoted ...See the full content of this document
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