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2024 | OriginalPaper | Chapter

4. A Peaceful March Toward Concordianism

Author : Carmine Gorga

Published in: Concordian Economics, Vol. 2

Publisher: Springer Nature Switzerland

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Abstract

A peaceful march toward Concordianism will accelerate its pace if we go beyond the intellectual strictures of two “defunct economists”: Keynes and Hayek. Preeminent leaders of two schools of thought, although long gone, both still dominate and divide the economic discourse of the world. In a thorough treatment of the many interlocked questions, I have explored the issues at some considerable depth. I found solid barriers that made Keynes and Hayek unable to listen to and talk to each other. Beyond the analysis of those barriers, we shall find what ideally unifies them: the need to accept the presence of the Government and the presence of the Market as both necessary—as complementary positions. Has the time come for respective entrenched opponents to lower their barriers? Concordian economics is poised to resolve the ancient, perennial issue of what is the best form of government. The short answer is the government that governs on the basis of self-imposed (hence democratic) rules of economic justice. In this system, The Government—after much vetting—declares a set of economic rights and responsibilities to be shared by the entire nation and leaves the Market free to execute them. Ideally, the vetting will converge on the creation of the set of economic rights and responsibilities enunciated throughout the work on Concordian economics. Once these issues are settled in Sect. 4.1, we can briefly address in Sect. 4.2 what we are leaving behind: a gentle walk-away from both 1% Capitalism and Marxism. In Sect. 4.3, we take a stride toward Concordianism.

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Appendix
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Footnotes
1
As an example, here are some basic differences concerning the complex issue concerning the measurability of economic affairs. Private, personal values, as Mises (1933: 216 and 217), forcefully insisted, are graded, not measured. And that is sufficient as a starting point to build a subjective micro theory of the market. However, public or social values of real wealth are different. They need to be measured if we want to know where the macro economy stands. Problems of measurement of values of real wealth, ancient problems of imputation, were recognized by Keynes as well as by Hayek; but their suggested solutions (wage units and amount of input) were admittedly unsatisfactory, cf. Keynes (1936: 37–45); Hayek (1941: 202–215). These practical problems are finally resolved in Concordian economics. They are identified and suggestions for solutions are offered; notorious problems of measurement are intellectually solved in Concordian economics, Gorga, (2012a, 2012b).
 
2
In a detailed essay titled “Individualism: True and False,” as the first essay of a book titled Individualism and Economic Order, Hayek (1948) took great pains to distinguish between two antipodal strains that exist in this tradition.
 
3
Concordian analysis becomes more complex than either the Austrian or the mainstream analysis, first, because categories of wealth are more detailed and are taken into account from the point of view of supply as well as demand, and, second, because once stocks are seen in action they transform themselves into flows of values that interact among themselves to produce, over time, economic growth and business cycles. The analysis is further refined by noticing that economic categories (not only markets) behave differently at different stages of the business cycle and that such stages often overlap. Finally, all these analyses have to be integrated into one comprehensive understanding of the economic system as a whole in which all agents with their property, controlling or being controlled by all these categories of thought, are not presented as lifeless lists but are put in functional relations with each other.
 
4
See, Lux (1990).
 
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Metadata
Title
A Peaceful March Toward Concordianism
Author
Carmine Gorga
Copyright Year
2024
DOI
https://doi.org/10.1007/978-3-031-54642-6_4

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