Murray, Michael/ M J (2011): The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control.
Download (272Kb) | Preview
The article discusses the incompatibility of promoting individual interests of capitalists and workers with the promotion of macroeconomic goals of society. The article implements the ``instrumental method'' developed by Adolph Lowe, and articulates the separation of microeconomic goals with macroeconomic objectives. Using full employment as a case study, the article articulates the proper role for government in achieving and maintaining full employment in a capitalist society. Further it is seen that such an approach also promotes the self interests of capitalists. The approach taken in this article offers an alternative to the failed policies of neoliberalism.
|Item Type:||MPRA Paper|
|Original Title:||The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control|
|Keywords:||Instrumentalism, instrumental inference, neoliberalism, F.A. Hayek, Adolph Lowe, full employment, unemployment, employer of last resort|
|Subjects:||B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist; Marxian; Sraffian
B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B15 - Historical; Institutional; Evolutionary
A - General Economics and Teaching > A1 - General Economics > A11 - Role of Economics; Role of Economists; Market for Economists
A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B53 - Austrian
A - General Economics and Teaching > A1 - General Economics > A14 - Sociology of Economics
|Depositing User:||Michael/M. J. Murray|
|Date Deposited:||15. Feb 2011 22:31|
|Last Modified:||13. Feb 2013 13:50|
Arestis, P. (1996). Post keynesian economics: towards coherence. Cambridge Journal of Economics 20, 111–135.
Barnes, C. and R. Kingsnorth (1996). Race, drug, and criminal sentencing: Hidden effects of the criminal law. Journal of Criminal Justice 24(1), 39–55.
Baskoy, T. (2003). Thorstein veblen’s theory of business competition. Journal of Economic Issues 37(4), 1121–1137.
Brenner, M. (1973). Mental Illness and the Economy. Cambridge, MA: Harvard University Press.
Browman, C., V. Hamilton, and W. Hoffman (2001). Stress and Distress among the Unemployed: Hard Times and Vulnerable People. New York, NY: Kluwer Academic/Plenum Publishers.
Bush, G. (2002, Sept 11). Securing freedom’s triumph. New York Times. A22.
Cohen, S. (2002). Folk Devils and Moral Panics (3 ed.). New York, NY: Routledge.
Feather, N. (1990). The Psychological Impact of Unemployment. New York, NY: Springer-Verlag.
Fehl, U. (1994). Spontaneous order. In P. J. Boettke (Ed.), The Elgar Companion to Austrian Economics, pp. 197–205. Cheltenham, UK: Edward Elgar Publishing Ltd.
Forstater, M. (2003). Must spontaneous order be unintended? In H. Jensen, L. Richter, and M. T. Vendelo (Eds.), The Evolution of Scientific Knowledge, pp. 189–208. Cheltenham, U.K.: Edward Elgar Publishing Ltd.
Granovetter, M. (2005). The impact of social structure on economic outcomes. Journal of Economic Perspectives 19(1), 33–50.
Hamouda, O. and G. Harcourt (1990). Post-keynesianism: From criticism to coherence? In J. Pheby (Ed.), New directions in post-Keynesian economics, pp. 1–37. Cheltenham, UK: Edward Elgar Publishing Ltd.
Harvey, D. (2005). A Breif History of Neoliberalism. Oxford, UK: Oxford University Press.
Hayek, F. (1973). Law, Legislation, and Liberty, Volume 2. Chicago, IL: University of Chicago Press.
Holt, R. (2007). What is post keynesian economics. In M. Forstater, G. Mongiovi, and S. Pressman (Eds.), Post Keynesian Macroeconomics: Essays in Honour of Ingrid Rima, pp. 89–107. New York, NY: Routledge.
Jahoda, M. (2002 ). Marienthal: The Sociography of an Unemployed Community. New Brunswick, New Jersey: Transaction Publishers.
Kelvin, P. and J. E. Jarrett (1985). Unemployment, Its Social Psychological Effects. Cambridge, UK: Cambridge University Press.
Keynes, J. (1964 ). The General Theory of Employment Interest and Money. New York, NY: Harcourt Brace and Co.
Keynes, J. M. (1988). The Collected Writings of John Maynard Keynes, Volume 29. Cambridge, UK: Cambridge University Press.
Lawson, T. (1994). The nature of Post Keynesian and its links to other traditions: a realist perspective. Journal of Post Keynesian Economics 16(4), 503–538.
Lerner, A. (1943). Functional finance and the federal debt. Social Research 10, 38–51.
Lerner, A. (1947). Money as a creature of the state. American Economic Review 37(2), 312–317.
Lowe, A. (1942). A reconsideration of the law of supply and demand. Social Research 5, 431–457.
Lowe, A. (1951). On the mechanistic approach in economics. Social Research 18(4), 403–434.
Lowe, A. (1965). On Economic Knowledge. New York, NY: Harper and Row Publishers.
Lowe, A. (1976). The Path of Economic Growth. Cambridge, UK: Cambridge University Press.
Lowe, A. (1987a). Has Freedom A Future? New York, NY: Praeger Publishers.
Lowe, A. (1987b). Toward a science of political economics. In O. Oakley (Ed.), Essays in Political Economics, pp. 157–192. New York, NY: New York University Press.
Lowe, A. (2003 ). Economics and Sociology. London, UK: Routledge.
Nellis, A., J. Greene, and M. Mauer (2008). Reducing racial disparity in the criminal justice system: A manual for practitioners and policymakers. The Sentencing Project, 514 10th Street NW, Suite 1000 Washington, DC 20004.
Parada, J. (2008). Post-keynesian theory of business enterprise and the veblenian’s approach: Are there commonalities? evista Economia del Caribe 2, 1–30.
Polonyi, K. ( 2001). The Great Transformation. Boston, MA: Beacon Press.
Raphael, S. and R. Winter-Ebmer (2001). Identifying the effect of unemployment on crime. Journal of Law and Economics 44, 259–283.
Spohn, C. (2001). Thirty years of sentencing reform: The quest for a racially neutral sentencing process. In W. Reed and L. Winterfield (Eds.), Criminal Justice 2000, Volume 3, pp. 501. Washington, D.C.: National Institute of Justice.
Spohn, C. and D. Holleran (2000). The imprisonment penalty paid by young, unemployed black and hispanic male offenders. Criminology 38(1), 281–306.
Steffensmeir, D., J. Ulmer, and J. Kramer (1998). The interaction of race, gender, and age in criminal sentencing: The punishment cost of being young, black, and male. Criminology 36(4), 763–798.
Veblen, T. (1978 ). The Theory of Business Enterprise. New Brunswick, NJ: Transaction Publishers.
Wallman, J. and A. Blumstein (2005). After the crime drop. In J. Wallman and A. Blumstein (Eds.), The Crime Drop in America (2nd ed.)., pp. 319–348. Cambridge, UK: Cambridge University Press.
Wray, L. (1990). Money and Credit in Capitalist Economies. Cheltenham, UK: Edward Elgar Publishing Ltd.