Book contents
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- 13 A Return to Laissez Faire?
- 14 The Policies of Market Fundamentalism
- 15 The Growing Importance of Monetary Policy
- 16 Equity Aspects of Market Fundamentalism
- 17 Other Aspects of Market Fundamentalism
- 18 Cultural Aspects of Market Fundamentalism
- 19 Growing Conflict between Efficiency and Equity
- 20 Intellectual Property and Venture Capitalists
- 21 The World in the Twenty-First Century
- 22 The Impact of New Economic Developments on the Market and Democracy
- 23 More on Economy and Culture in the Present Time
- 24 Some Summing Up and Concluding Observations
- References
- Index
23 - More on Economy and Culture in the Present Time
from Part III - The Period after the 1970s
Published online by Cambridge University Press: 07 December 2023
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- 13 A Return to Laissez Faire?
- 14 The Policies of Market Fundamentalism
- 15 The Growing Importance of Monetary Policy
- 16 Equity Aspects of Market Fundamentalism
- 17 Other Aspects of Market Fundamentalism
- 18 Cultural Aspects of Market Fundamentalism
- 19 Growing Conflict between Efficiency and Equity
- 20 Intellectual Property and Venture Capitalists
- 21 The World in the Twenty-First Century
- 22 The Impact of New Economic Developments on the Market and Democracy
- 23 More on Economy and Culture in the Present Time
- 24 Some Summing Up and Concluding Observations
- References
- Index
Summary
This chapter reaffirms the need to give equity a role in a market economy. That role can still retain the main and important role that a free market plays in allocating resources and in generating much of the income. But much of that role can be maintained while reducing the inequity that free markets might tend to generate. Some countries have been able to achieve this goal by pursuing some policies that reduce income differences at a minimum cost in restricting economic freedom. Libertarians have continued to call for what they call libertarian policies but have not specified what those policies are and what part of the government role should not be promoted.
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- Monitoring the State or the MarketFrom Laissez Faire to Market Fundamentalism, pp. 185 - 192Publisher: Cambridge University PressPrint publication year: 2023