IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/28888.html
   My bibliography  Save this paper

The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control

Author

Listed:
  • Murray, Michael/ M J

Abstract

The article discusses the incompatibility of promoting individual interests of capitalists and workers with the promotion of macroeconomic goals of society. The article implements the ``instrumental method'' developed by Adolph Lowe, and articulates the separation of microeconomic goals with macroeconomic objectives. Using full employment as a case study, the article articulates the proper role for government in achieving and maintaining full employment in a capitalist society. Further it is seen that such an approach also promotes the self interests of capitalists. The approach taken in this article offers an alternative to the failed policies of neoliberalism.

Suggested Citation

  • Murray, Michael/ M J, 2011. "The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control," MPRA Paper 28888, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28888
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/28888/1/MPRA_paper_28888.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Raphael, Steven & Winter-Ember, Rudolf, 2001. "Identifying the Effect of Unemployment on Crime," Journal of Law and Economics, University of Chicago Press, vol. 44(1), pages 259-283, April.
    2. Tony Lawson, 1994. "The Nature of Post Keynesianism and Its Links to Other Traditions: A Realist Perspective," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 16(4), pages 503-538, July.
    3. Mark Granovetter, 2005. "The Impact of Social Structure on Economic Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 33-50, Winter.
    4. Harvey, David, 2007. "A Brief History of Neoliberalism," OUP Catalogue, Oxford University Press, number 9780199283279.
    5. Hamouda, Omar F & Harcourt, G C, 1988. "Post Keynesianism: From Criticism to Coherence?," Bulletin of Economic Research, Wiley Blackwell, vol. 40(1), pages 1-33, January.
    6. Parada, Jairo, 2008. "Post-Keynesian Theory of Business Enterprise and the VeblenianĀ“s Approach: Are there commonalities?," MPRA Paper 16768, University Library of Munich, Germany, revised 10 Jul 2008.
    7. L. R. Wray, 1990. "Money and Credit in Capitalist Economies," Books, Edward Elgar Publishing, number 474, June.
    8. Arestis, Philip, 1996. "Post-Keynesian Economics: Towards Coherence," Cambridge Journal of Economics, Oxford University Press, vol. 20(1), pages 111-135, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Instrumentalism; instrumental inference; neoliberalism; F.A. Hayek; Adolph Lowe; full employment; unemployment; employer of last resort;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B0 - Schools of Economic Thought and Methodology - - General
    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:28888. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.