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Los límites de la eficiencia económica en una sociedad democrática

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  • Alejandro Agafonow

    () (Universidad Antonio de Lebrija)

Abstract

During the 20th century, Marxism and non-egalitarian or classical liberalism debated the properties of economic reasoning, that is, the way economic institutions value multiple ends. This debate produced an implicit consensus between market socialists and non-egalitarian liberals about democracy. In this consensus, the Rousseau’s general will was replaced by the individual will, and popular sovereignty reflected in consumer sovereignty. This essay uses a Rawlsian perspective to analyze the limits of economic efficiency in a democratic society.

Suggested Citation

  • Alejandro Agafonow, 2007. "Los límites de la eficiencia económica en una sociedad democrática," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 9(16), pages 89-119, January-J.
  • Handle: RePEc:rei:ecoins:v:9:y:2007:i:16:p:89-119
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/aagafonow16.pdf
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    References listed on IDEAS

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    1. Pranab Bardhan & John E. Roemer, 1992. "Market Socialism: A Case for Rejuvenation," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 101-116, Summer.
    2. Dimitris Milonakis, 2003. "New market socialism: a case for rejuvenation or inspired alchemy?," Cambridge Journal of Economics, Oxford University Press, vol. 27(1), pages 97-121, January.
    3. A. P. Lerner, 1936. "A Note on Socialist Economics," Review of Economic Studies, Oxford University Press, vol. 4(1), pages 72-76.
    4. Johansson, Sten, 2001. "Conceptualizing and Measuring Quality of Life for National Policy," Working Paper Series 171, Trade Union Institute for Economic Research.
    5. Vaughn, Karen I, 1980. "Economic Calculation under Socialism: The Austrian Contribution," Economic Inquiry, Western Economic Association International, vol. 18(4), pages 535-554, October.
    6. A. P. Lerner, 1935. "Economic Theory and Socialist Economy: A Rejoinder," Review of Economic Studies, Oxford University Press, vol. 2(2), pages 152-154.
    7. Frank H. Knight, 1946. "Freedom Under Planning," Journal of Political Economy, University of Chicago Press, vol. 54, pages 451-451.
    8. Frank H. Knight, 1950. "Economic and Social Policy in Democratic Society," Journal of Political Economy, University of Chicago Press, vol. 58, pages 513-513.
    9. Milton Friedman & L. J. Savage, 1952. "The Expected-Utility Hypothesis and the Measurability of Utility," Journal of Political Economy, University of Chicago Press, vol. 60, pages 463-463.
    10. Cooter, Robert & Rappoport, Peter, 1984. "Were the Ordinalists Wrong about Welfare Economics?," Journal of Economic Literature, American Economic Association, vol. 22(2), pages 507-530, June.
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    More about this item

    Keywords

    economic efficiency; democracy; Rawls;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism

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