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Actually Existing Markets: The Case of Neoliberal Australia

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  • Lynne Chester

Abstract

Neoliberalism has transformed markets supplying public goods. Analysis of five real-world Australian markets reveals the eligibility rules for access and ongoing participation, interaction of participants, the role of intermediaries and government, the extent of competition, complex regulatory regimes shaping and controlling these markets, and key market outcomes. Contrary to neoliberalism's free market rhetoric and the view promulgated by mainstream economics, a spectrum of market configurations and governance regimes were found along with participation being highly dependent on technology access and skills, market outcomes inconsistent with policy rhetoric, market interrelationships posing adverse cumulative impacts, and government is strongly interventionist through multiple roles.

Suggested Citation

  • Lynne Chester, 2010. "Actually Existing Markets: The Case of Neoliberal Australia," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(2), pages 313-324.
  • Handle: RePEc:mes:jeciss:v:44:y:2010:i:2:p:313-324
    DOI: 10.2753/JEI0021-3624440204
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    Cited by:

    1. Anton Oleinik, 2011. "Market as a Weapon: Domination by Virtue of a Constellation of Interests," Forum for Social Economics, Taylor & Francis Journals, vol. 40(2), pages 157-177, January.
    2. Anton Oleinik, 2011. "Market as a Weapon: Domination by Virtue of a Constellation of Interests," Forum for Social Economics, Springer;The Association for Social Economics, vol. 40(2), pages 157-177, July.

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