Skip to main content
Top
Published in:
Cover of the book

2016 | OriginalPaper | Chapter

7. An Analysis of the Principal Criticisms

Author : Donald Rutherford

Published in: Suspicions of Markets

Publisher: Springer International Publishing

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

A consideration of the arguments that markets are inadequate and inefficient, impersonal, encourage extensive commodification, are guided by poor motivation, unfavourably affect the income distribution and create a different culture.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Literature
go back to reference Bagehot, W. (1905). Economic studies. In R. H. Hutton (Ed.) (1915), The works and life of Walter Bagehot (Vol. 7). London/New York/Bombay: Longmans, Green and Co. Bagehot, W. (1905). Economic studies. In R. H. Hutton (Ed.) (1915), The works and life of Walter Bagehot (Vol. 7). London/New York/Bombay: Longmans, Green and Co.
go back to reference Blaug, M. (1997). Say’s law of markets: What did it mean and why should we care. Eastern Economic Journal, 23, 231–235. Blaug, M. (1997). Say’s law of markets: What did it mean and why should we care. Eastern Economic Journal, 23, 231–235.
go back to reference Galbraith, J. K. (1998 [1958]). The affluent society. Boston: Houghton, Mifflin, Harcourt. Galbraith, J. K. (1998 [1958]). The affluent society. Boston: Houghton, Mifflin, Harcourt.
go back to reference Hill, P. J., & Lunn, J. (2007). Markets and morality. Things ethicists should consider when evaluating market exchange. Journal of Religious Ethics, 35, 627–653. Hill, P. J., & Lunn, J. (2007). Markets and morality. Things ethicists should consider when evaluating market exchange. Journal of Religious Ethics, 35, 627–653.
go back to reference Kanbur, R. (2004). On obnoxious markets. In S. Cullenberg & P. Pattanaik (Eds.), Globalization, culture and the limits of the market: Essays in economics and philosophy. New Delhi/New York: Oxford University Press. Kanbur, R. (2004). On obnoxious markets. In S. Cullenberg & P. Pattanaik (Eds.), Globalization, culture and the limits of the market: Essays in economics and philosophy. New Delhi/New York: Oxford University Press.
go back to reference Keynes, J. M. (1936). The general theory of employment, interest and money. London: Macmillan. Keynes, J. M. (1936). The general theory of employment, interest and money. London: Macmillan.
go back to reference Knight, F. H. (1948). Risk, uncertainty and profit. Boston/New York: Houghton Mifflin Company. Knight, F. H. (1948). Risk, uncertainty and profit. Boston/New York: Houghton Mifflin Company.
go back to reference Lane, R. (Ed.). (1991). The market experience. Cambridge: Cambridge University Press. Lane, R. (Ed.). (1991). The market experience. Cambridge: Cambridge University Press.
go back to reference Loy, D. R. (1997). The religion of the market. Journal of the American Academy of Religion, 65(2), 275–290.CrossRef Loy, D. R. (1997). The religion of the market. Journal of the American Academy of Religion, 65(2), 275–290.CrossRef
go back to reference Malkiel, B. G. (2003). The efficient market hypothesis and its critics. Journal of Economic Perspectives, 17, 59–82.CrossRef Malkiel, B. G. (2003). The efficient market hypothesis and its critics. Journal of Economic Perspectives, 17, 59–82.CrossRef
go back to reference Marshall, A. (1920a). Industry and trade: A study of industrial technique, and business organisation; and of their influences on the conditions of various classes and nations. London: Macmillan & Co. Marshall, A. (1920a). Industry and trade: A study of industrial technique, and business organisation; and of their influences on the conditions of various classes and nations. London: Macmillan & Co.
go back to reference Marshall, A. (1920). Principles of economics (8th ed.). London: Macmillan & Co. Marshall, A. (1920). Principles of economics (8th ed.). London: Macmillan & Co.
go back to reference Marx, K. (1976). Capital. A critique of political economy (trans: Fowkes, B. 3 vols.). Harmondsworth/Middlesex: Penguin Books. Marx, K. (1976). Capital. A critique of political economy (trans: Fowkes, B. 3 vols.). Harmondsworth/Middlesex: Penguin Books.
go back to reference Marx, K., & Engels, F. (1848 [1995]). The communist manifesto. Harmondsworth/Middlesex: Penguin. Marx, K., & Engels, F. (1848 [1995]). The communist manifesto. Harmondsworth/Middlesex: Penguin.
go back to reference Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50, 370–396.CrossRef Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50, 370–396.CrossRef
go back to reference Mill, J. M. (1808). Commerce defended: An answer to the arguments of Mr Spence, Mr Corbell, and others, have attempted to prove that commerce is not a source of national wealth. London: C and R Baldwin. Mill, J. M. (1808). Commerce defended: An answer to the arguments of Mr Spence, Mr Corbell, and others, have attempted to prove that commerce is not a source of national wealth. London: C and R Baldwin.
go back to reference Mill, J. S. (1844). Essays on some unsettled questions of political economy. London: John W Parker/Harrison and Co. Mill, J. S. (1844). Essays on some unsettled questions of political economy. London: John W Parker/Harrison and Co.
go back to reference Mill, J. S. (1917). Principles of political economy (8th ed.). London: Longmans, Green and Company. Mill, J. S. (1917). Principles of political economy (8th ed.). London: Longmans, Green and Company.
go back to reference Minogue, K. (1963). The liberal mind. London: Methuen. Minogue, K. (1963). The liberal mind. London: Methuen.
go back to reference Posner, E. A. (2003). The jurisprudence of greed. University of Pennsylvania Law Review, 151, 1097–1133.CrossRef Posner, E. A. (2003). The jurisprudence of greed. University of Pennsylvania Law Review, 151, 1097–1133.CrossRef
go back to reference Reda, A. (2013). Islam and markets. Review of Social Economy, 71, 220–243. Reda, A. (2013). Islam and markets. Review of Social Economy, 71, 220–243.
go back to reference Ricardo, D. (1821, 1971). On the principles of political economy and taxation Harmondsworth: Penguin. (edit Hartwell, R. M.). Ricardo, D. (1821, 1971). On the principles of political economy and taxation Harmondsworth: Penguin. (edit Hartwell, R. M.).
go back to reference Roth, A. E. (2006). Repugnance as a constraint on markets (Working Paper 12702). Washington, DC: National Bureau of Economic Research. Roth, A. E. (2006). Repugnance as a constraint on markets (Working Paper 12702). Washington, DC: National Bureau of Economic Research.
go back to reference Sandel, M. J. (2003). What money can’t buy. The moral limits of markets. The Tanner lectures on human values. Utah. Sandel, M. J. (2003). What money can’t buy. The moral limits of markets. The Tanner lectures on human values. Utah.
go back to reference Smith, A. [1976 1776]. The wealth of nations. Indianapolis: The Liberty Fund. Smith, A. [1976 1776]. The wealth of nations. Indianapolis: The Liberty Fund.
go back to reference Snowden, C. (2015). Selfishness, greed and capitalism. Debunking myths about the free market. London: Institute of Economic Affairs. Snowden, C. (2015). Selfishness, greed and capitalism. Debunking myths about the free market. London: Institute of Economic Affairs.
go back to reference Stiglitz, J. E. (2013). The price of inequality. How today’s divided society endangers our future. New York: WW Norton. Stiglitz, J. E. (2013). The price of inequality. How today’s divided society endangers our future. New York: WW Norton.
go back to reference Townsend, P. (1979). Poverty in the United Kingdom. London: Allen Lane. Townsend, P. (1979). Poverty in the United Kingdom. London: Allen Lane.
go back to reference von Mises, L. (1996). Human action: A treatise on economics. Indianapolis: Liberty Fund. von Mises, L. (1996). Human action: A treatise on economics. Indianapolis: Liberty Fund.
go back to reference Weintraub, J., & Kumar, K. (Eds.). (1997). Public and private in thought and practice. Chicago: University of Chicago Press. Weintraub, J., & Kumar, K. (Eds.). (1997). Public and private in thought and practice. Chicago: University of Chicago Press.
go back to reference Winfield, R. D. (1988). The just economy. New York/London: Routledge. Winfield, R. D. (1988). The just economy. New York/London: Routledge.
Metadata
Title
An Analysis of the Principal Criticisms
Author
Donald Rutherford
Copyright Year
2016
DOI
https://doi.org/10.1007/978-3-319-40808-8_7