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Public economics after neoliberalism: a theoretical-historical perspective

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  • Yahya Madra
  • Fikret Adaman

Abstract

Musgravean public economics, as the dominant public policy framework of the post-World War II era, argued that the government can and should supplement the price mechanism in order to create a social order within which a democratic society can flourish. Starting with the late 1970s, this project of public economics has been challenged by the growing dominance of neoliberalism as a form of governmentality that extends the economic logic of markets into the domain of the state and its mode of exercising sovereignty over its subjects. After outlining the historical and the disciplinary context of this challenge, the article maintains that endogenous theoretical confrontations internal to public economics should also be taken into consideration to provide a fuller account of the eclipse of the Musgravean public economics in the era of neoliberalism.

Suggested Citation

  • Yahya Madra & Fikret Adaman, 2010. "Public economics after neoliberalism: a theoretical-historical perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(4), pages 1079-1106.
    • Handle: RePEc:taf:eujhet:v:17:y:2010:i:4:p:1079-1106
    DOI: 10.1080/09672567.2010.482997
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    References listed on IDEAS

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    1. Saari,Donald G., 2001. "Decisions and Elections," Cambridge Books, Cambridge University Press, number 9780521808163.
    2. Mandler, Michael, 2001. "Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics," OUP Catalogue, Oxford University Press, number 9780195145755, Decembrie.
    3. Monique Florenzano, 2009. "From equilibrium models to mechanism design: On the place and the role of government in the public goods provision analysis in the second part of the twentieth century," Post-Print halshs-00367859, HAL.
    4. Donald W. Katzner, 2006. "An Introduction to the Economic Theory of Market Behavior," Books, Edward Elgar Publishing, number 3937.
    5. Saari,Donald G., 2001. "Decisions and Elections," Cambridge Books, Cambridge University Press, number 9780521004046.
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    Citations

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    Cited by:

    1. Fikret Adaman & Yahya M. Madra, 2012. "Understanding Neoliberalism as Economization: The Case of the Ecology," Working Papers 2012/04, Bogazici University, Department of Economics.
    2. Murat Arsel & Bengi Akbulut & Fikret Adaman & Yahya M. Madra, 2015. "Forum 2015," Development and Change, International Institute of Social Studies, vol. 46(4), pages 733-761, July.
    3. Oláh, Dániel, 2018. "Neoliberalism as a Political Programme and Elements of its Implementation – A Narrative in Theoretical History," Public Finance Quarterly, Corvinus University of Budapest, vol. 63(1), pages 96-112.
    4. Louis-Gaëtan Giraudet & Antoine Missemer, 2023. "The History of Energy Efficiency in Economics: Breakpoints and Regularities," Post-Print halshs-02301636, HAL.
    5. Bengi Akbulut & Fikret Adaman & Yahya M. Madra, 2015. "The Decimation and Displacement of Development Economics," Working Papers 2015/01, Bogazici University, Department of Economics.
    6. Yahya Madra & Fikret Adaman, 2013. "Neoliberal reason and its forms:Depoliticization through economization," Working Papers 2013/07, Bogazici University, Department of Economics.

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