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Erschienen in:
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2017 | OriginalPaper | Buchkapitel

Myth 11: A Free Market Nation Does Not Need a Society

verfasst von : Joseph Shaanan

Erschienen in: America's Free Market Myths

Verlag: Springer International Publishing

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Abstract

Myth: It is individuals who are responsible for the nation’s achievements and not society. The term “society” serves as an excuse to deprive Americans of their individual freedom and not to improve the lives of the poor and middle class. The purpose is to promote liberal “do-good” projects that always fail miserably. The market should be allowed to prevail in more areas.
Reality: Even markets depend on government’s protection and on social conventions. Property ownership is a social construct. The fight against society and social protection is partly a fight against the legitimacy of institutions and traditions that make for an enlightened nation. They are criticized because they limit profit making activities, especially of giant corporations. However, some areas of life should be shielded from the rule of the market.

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Vorheriges Kapitel Myth 10: Free Market and Laissez Faire Are the Same
Nächstes Kapitel Myth 12: The Government Caused the Crash of 2007–08
Fußnoten
1
See Madrick (2011).
 
2
See Schotter (1985).
 
3
Friedman and Friedman (1980).
 
4
Schotter (1985).
 
5
Schotter (1985).
 
6
Crouch (2011).
 
7
Hayek (1994) claims that the philosophy of individualism, and allowing individuals to pursue their own values rather than society’s is based on the information argument rather than on selfishness.
 
8
Mirowski (2013).
 
9
Perelman (2007).
 
10
See Madrick (2009).
 
11
Madrick (2009).
 
12
Kuttner (2007).
 
13
Sennett (2006).
 
14
Perelman (2007).
 
15
Thomas Frank (2000).
 
16
Thomas Frank (2000).
 
17
Kuttner (2007).
 
18
Kuttner (2007).
 
19
Kuttner (2007).
 
20
Stiglitz (2012).
 
21
Madrick (2009).
 
22
Kuttner (2007).
 
23
Madrick (2009).
 
24
Stiglitz (2001).
 
25
See Block (2001).
 
26
Block (2001).
 
27
Polyani (2001).
 
28
Polyani (2001).
 
29
Stiglitz (2001).
 
30
Perelman (2007).
 
31
See Mirowski (2013).
 
32
Hayek (1994) had been concerned about such developments adulterating science including the influence of private interests.
 
33
Kay (2007).
 
34
Kay (2007).
 
35
Ivory et al. (2016).
 
36
Kay (2007).
 
37
Kay (2007).
 
Literatur
Arrow, Kenneth J. (1963) Social Choice and Individual Values (second edition), New Haven: Yale University Press.
Block, Fred (2001) Introduction to The Great Transformation, by Karl Polyani, Boston: Beacon Press. Kindle Edition.
Crouch, Colin (2011) The Strange Non-Death of Neo-Liberalism, Cambridge, UK: Polity Press.
Frank, Thomas (2000) One Market Under God, New York: Doubleday.
Friedman, Milton and Rose D. Friedman (1980) Free to Choose, San Diego: Harvest Book, Harcourt Brace.
Hayek Friedrich (1994) The Road to Serfdom, Chicago: University of Chicago Press.
Kay, John (2007) “The Failure of Market Failure,” Prospect (July 26).
Kuttner, Robert (2007) The Squandering of America: How the Failure of Our Politics Undermines Our Prosperity, New York: Vintage. Kindle Edition.
Madrick, Jeff (2009) The Case for Big Government, New Jersey: Princeton Press. Kindle Edition.
Madrick, Jeff (2011) The Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present, New York: Alfred A. Knopf. Kindle Edition.
Mirowski, Philip (2013) Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown, London: Verso Books. Kindle Edition.
Perelman, Michael (2007) The Confiscation of American Prosperity: From Right Wing Extremism and Economic Ideology to the Next Great Depression, New York: Palgrave MacMillan.
Polyani, Karl (2001) The Great Transformation, Boston: Beacon Press.
Schotter, Andrew (1985) Free Market Economics: A Critical Appraisal, New York: St Martin’s Press.
Sennett, Richard (2006) The Culture of the New Capitalism, New Haven: Yale University Press.
Simpson, Glenn (2007) “Lender Lobbying Blitz Abetted Mortgage Mess,” Wall Street Journal (December 31) [p. A.1].
Stiglitz, Joseph E. (2001) Foreword in The Great Transformation, by Karl Polyani, Boston: Beacon Press. Kindle Edition.
Stiglitz, Joseph E. (2012) The Price of Inequality: How Today’s Divided Society Endangers Our Future, New York: W. W. Norton and Company.
Metadaten
Titel
Myth 11: A Free Market Nation Does Not Need a Society
verfasst von
Joseph Shaanan
Copyright-Jahr
2017
Buch
America's Free Market Myths

Print ISBN: 978-3-319-50635-7

Electronic ISBN: 978-3-319-50636-4

Copyright-Jahr: 2017

DOI
https://doi.org/10.1007/978-3-319-50636-4_12

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