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Freedom and the market

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  • Pavel Nikitin
  • John Elliott

Abstract

Those who believe that the free market is positively related to both economic efficiency and individual freedom are prone to regard resistance to the establishment of the global market essentially free from any serious sociopolitical constraint as a politically insignificant expression of impatience, ignorance, and hypocrisy. This article attempts to endow the manifestation of discontent with the status quo evident in public protests in Seattle and Washington DC with political significance through explicating it as an expression of a fundamental conflict between economic efficiency and individual freedom inherent in the global implementation of the principle of self-regulating markets. This analysis of the antiglobalization movement is conducted from the perspective of the theoretical foundation of the evaluation of the dynamics of capitalism by Polanyi, Hayek, and Keynes, and its conclusions are brought to bear upon the validity of their contesting views of the relationship between economic efficiency and individual freedom.

Suggested Citation

  • Pavel Nikitin & John Elliott, 2000. "Freedom and the market," Forum for Social Economics, Taylor & Francis Journals, vol. 30(1), pages 1-16, January.
    • Handle: RePEc:taf:fosoec:v:30:y:2000:i:1:p:1-16
    DOI: 10.1007/BF02802941
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    Cited by:

    1. Graafland, Johan, 2023. "Economic freedom and life satisfaction: A moderated mediation model with individual autonomy and national culture," European Journal of Political Economy, Elsevier, vol. 79(C).
    2. Manuel Dorado-Moreno & Antonio Sianes & César Hervás-Martínez, 2016. "From outside to hyper-globalisation: an Artificial Neural Network ordinal classifier applied to measure the extent of globalisation," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(2), pages 549-576, March.
    3. Mark Pernecky & Thomas Richter, 2011. "Keynes’ Preface to the German Edition of the General Theory: Nazi Sympathies or Methodological Empathies?," Forum for Social Economics, Taylor & Francis Journals, vol. 40(2), pages 253-264, January.
    4. Elena Chirila-Donciu, 2013. "Globalization And Foreign Direct Investments," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(2), pages 177-186.
    5. Mark Pernecky & Thomas Richter, 2011. "Keynes’ Preface to the German Edition of the General Theory: Nazi Sympathies or Methodological Empathies?," Forum for Social Economics, Springer;The Association for Social Economics, vol. 40(2), pages 253-264, July.

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