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Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics by Enrico Colombatto (Hardcover, 2011)

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Free-market economics has attempted to combine efficiency and freedom by emphasizing the need for neutral rules and meta-rules. These efforts have only been partly successful, for they have failed to address the deeper, normative arguments justifying -- and limiting -- coercion. This failure has thus left most advocates of free-market vulnerable to formulae which either emphasize expediency or which rely upon optimal social engineering to foster different notions of the common will and of the common good. This book offers the reader a new perspective on free-market economics, one in which the defense of markets is no longer based upon the utilitarian claim that free markets are more efficient; rather, the defense of markets rests upon the moral argument that top-down coercive policy-making is necessarily in tension with the rights-based notion of justice typical of the Western tradition. In arguing for a consistent moral basis for the free-market view, we depart from both the Austrian and neoclassical traditions by acknowledging that rationality is not a satisfactory starting point. This rejection of rationality as the complete motivator for human economic behaviour throws constitutional economics and the law-and-economics tradition into new relief, revealing these approaches as governed by considerations derived by various notions of social efficiency, rather than by principles consistent with individual freedom, including freedom to choose. This book shows that the solution is in fact a better understanding of the lessons taught by the Scottish Enlightenment: the role of the political context is to ensure that the individual can pursue his own ends, free from coercion. This also implies individual responsibility, respect for somebody else's preferences and for his entrepreneurial instincts. Social virtue is not absent from this understanding of politics, but rather than being defined through the priorities of policy-makers, it emerges as the outcome of interaction among self-determining individuals. The strongest and most consistent case for free-market economics, therefore, rests on moral philosophy, not on some version of static-efficiency theorizing. This book should be of interest to students and researchers focussing on economic theory, political economics and the philosophy of economic thought, but is also written in a non-technical style making it accessible to an audience of non-economists.

Product Identifiers

Publisher
Taylor & Francis Ltd
ISBN-13
9780415588546
eBay Product ID (ePID)
106770030

Product Key Features

Author
Enrico Colombatto
Publication Name
Markets, Morals, and Policy-Making: a New Defence of Free-Market Economics
Format
Hardcover
Language
English
Subject
Economics
Publication Year
2011
Type
Textbook
Number of Pages
286 Pages

Dimensions

Item Height
234mm
Item Width
156mm
Volume
30
Item Weight
590g

Additional Product Features

Title_Author
Enrico Colombatto
Series Title
Routledge Foundations of the Market Economy
Country/Region of Manufacture
United Kingdom

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Markets, Morals, and Policy-Making: A New Defence of Free-Market Economics by Enrico Colombatto (Hardcover, 2011)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Australian Guidebook for Structural Engineers by Lonnie Pack (Paperback, 2019)

Eduqas GCSE (9-1) Religious Studies Route B: Catholic Christianity and Judaism by Deirdre Cleary, Andrew Barron, Joy White, Patrick Harrison (Paperback, 2017)

The Ethnic Cleansing of Palestine by Ilan Pappe (Paperback, 2007)

Save on Adult Learning & University

The Australian Native Bee Hive Book: Keeping Stingless Sugarbag OATH Tim Heard

Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by A

Netter Atlas of Human Anatomy: Classic Regional Approach

The Indoctrinated Brain: How to Successfully Fend Off the Global Attack on Your

George Hrabovsky Leonard Susskind Classical Mechanics (Paperback)

Havard's Nursing Guide to Drugs

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