{"product_id":"provide-free-markets-just-outcomes-a-critical-analysis-of-neoliberal-thought-von-simon-kehrer","title":"Provide free markets just outcomes?","description":"\u003cp\u003eSeminar paper from the year 2007 in the subject Business economics - Economic Policy, grade: 1,3, Stellenbosch Universitiy (University of Stellenbosch (South Africa)), course: Modern Economic Systems and Global Capitalism, language: English, abstract: Not only in economics people often talks about markets in fairly different\u003c\/p\u003e\u003cp\u003ecircumstances. What does that mean? The Britannica Online Encyclopedia serves us\u003c\/p\u003e\u003cp\u003ewith the following definition:\u003c\/p\u003e\u003cp\u003e¿A market is a mean by which the exchange of goods and services takes place\u003c\/p\u003e\u003cp\u003eas a result of buyers and sellers being in contact with one another, either directly\u003c\/p\u003e\u003cp\u003eor through mediating agents or institutions.¿1\u003c\/p\u003e\u003cp\u003eWhat they call ¿means¿ could also be named as a social arrangement. Analogously to\u003c\/p\u003e\u003cp\u003ethe physical location of a street market every other form of markets is a man-made\u003c\/p\u003e\u003cp\u003einstitution in order to organize trade. Thereby it is in addition to the right of own\u003c\/p\u003e\u003cp\u003eproperty probably the most salient feature of every capitalist system.\u003c\/p\u003e\u003cp\u003eBut as long as markets are not natural but social constructs, they and the way they\u003c\/p\u003e\u003cp\u003eare shaped have to be subjects of human monitoring. Although this seems self-\u003c\/p\u003e\u003cp\u003eevident from an impartial point of view, free markets and their results are often taken\u003c\/p\u003e\u003cp\u003efor granted by some economists. This article focuses on the results of markets, the\u003c\/p\u003e\u003cp\u003eso called market outcomes. More precisely it is about the justice of market outcomes\u003c\/p\u003e\u003cp\u003ewith special attention to the ideology and thought of Neo-liberalism with respect to\u003c\/p\u003e\u003cp\u003ethis subject.\u003c\/p\u003e\u003cp\u003eDuring this article I will continue along the following structure: First I will expose the\u003c\/p\u003e\u003cp\u003epossibility of market failures and distinguish these failures into traditional market\u003c\/p\u003e\u003cp\u003efailures and another form of undesirable market outcomes, the failures-of-market\u003c\/p\u003e\u003cp\u003eoutcomes. After that, we will devote attention to the upswing of the New Right and its\u003c\/p\u003e\u003cp\u003eideological background. After focusing on two extremely influential thinkers ¿\u003c\/p\u003e\u003cp\u003eFriedrich von Hayek and Robert Nozick ¿ we will examine the justice of free markets.\u003c\/p\u003e\u003cp\u003eI will finally end up with a conclusion in which I resume the most important results\u003c\/p\u003e\u003cp\u003eand give an overview about the implications.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e[...]\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783640155071\"\u003e\u003ch3\u003eA critical analysis of neoliberal thought\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783640155071","offer_id":39440745496669,"sku":"9783640155071","price":17.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/7c36f704-551b-48a9-adbf-bc4bf96f5567.jpg?v=1777610906","url":"https:\/\/shop.autorenwelt.de\/products\/provide-free-markets-just-outcomes-a-critical-analysis-of-neoliberal-thought-von-simon-kehrer","provider":"Autorenwelt Shop","version":"1.0","type":"link"}