scholarly journals Market Exchange and Alienation

2021 ◽  
Author(s):  
Barry Maguire
Keyword(s):  
Welfare State ◽  
Common Good ◽  
Opportunity Costs ◽  
Efficient Markets ◽  
Market Exchange ◽  
Market Behavior ◽  
Efficient Market ◽  
Productive Activities ◽  
The Common ◽  
Market Behaviour

Efficient markets are alienating if they inhibit us from caring about one another inour productive activities. I argue that efficient market behaviour is bothexclusionary and fetishistic. As exclusionary, the efficient marketeer cannotmanifest care alongside their market behaviour. As fetishistic, the efficientmarketeer cannot manifest care in their market behaviour. The conjunction entailsthat efficient market behavior inhibits care. It doesn’t follow that efficient marketbehavior is vicious: individuals might justifiably commit to efficiency becausedoing so serves the common good. But efficient market systems nevertheless havesignificant opportunity costs. This serves as a corrective to the prevailingassumption amongst welfare state capitalists, liberal egalitarians and marketsocialists that resolving distributive objections to markets will resolve thisrelational objection. 

The Positive State

2019 ◽  
pp. 129-137
Author(s):  
Judith N. Shklar
Keyword(s):  
Welfare State ◽  
Social Norms ◽  
Common Good ◽  
Industrial Capitalism ◽  
The Common Good ◽  
Positive Rights ◽  
The Common ◽  
Positive State ◽  
The Way

In this chapter Shklar identifies the problems that arise with the development of industrial capitalism. She traces the emergence of social obligations to fellow citizens and the new concerns this raised, paying particular attention to the way the English idealist T.H. Green addressed these issues. She discusses the thinking behind the new welfare state and the rising popularity of social norms and obligations, often also expressed in terms of “the common good,” “positive rights,” and “the obligation to be just.”

Illiberal Libertarians

2018 ◽  
Author(s):  
Samuel Freeman
Keyword(s):  
Public Goods ◽  
Common Good ◽  
Political Power ◽  
Efficient Markets ◽  
Classical Liberalism ◽  
Public Power ◽  
Liberal Tradition ◽  
Political Tradition ◽  
The Common ◽  
Primary Institutions

This chapter situates three contemporary views—classical liberalism, the high liberal tradition, and libertarianism—on the map of political conceptions and argues that, though libertarianism is normally considered to be a liberal view, the resemblance between liberalism and libertarianism is superficial. Correctly understood, libertarianism resembles a view that liberalism historically defined itself against, the doctrine of private political power that underlies feudalism. Like feudalism, libertarianism conceives of justified political power as based in a network of private contracts. It rejects the idea, essential to liberalism, that political power is a public power that is to be impartially exercised for the common good. Moreover, the primary institutions endorsed by the liberal political tradition—basic rights and liberties, equality of opportunity, and government’s role in supporting efficient markets, public goods, and a social minimum—are incompatible with libertarianism.

Relevance and evolution of adaptive markets hypothesis: a review

2016 ◽  
Vol 8 (3) ◽  
pp. 166-179 ◽  
Author(s):  
Raj S. Dhankar ◽  
Devesh Shankar
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Design Methodology ◽  
Efficient Market Hypothesis ◽  
Efficient Markets ◽  
Informational Efficiency ◽  
Market Behavior ◽  
Efficient Market ◽  
Content Type ◽  
Dynamic Perspective

Purpose The purpose of this paper is to discuss the relevance and evolution of adaptive markets hypothesis (AMH) that has gained traction in the recent years, as it provides a dynamic perspective to the concept of informational efficiency. Design/methodology/approach This paper discusses several issues related to the concept of informationally efficient markets that have indicated efficient market hypothesis to be an incomplete portrayal of stock market behavior. Findings The authors find that a strict and perpetual adherence to informational efficiency is highly unlikely, and AMH provides a much more plausible description of the behavior of stock markets. Originality/value The authors provide a description of studies that examine the testable implications of AMH.

scholarly journals The Principle of Synderesis in Interpreting Legislation

2021 ◽  
Vol 8 (7) ◽  
pp. 37
Author(s):  
Tomy Michael ◽  
Erwin Siregar ◽  
Ryan Gabriel Siregar ◽  
I Wayan Lastika Yasa ◽  
I Made Wirangga Kusuma
Keyword(s):  
Welfare State ◽  
Common Good ◽  
Legal Philosophy ◽  
Legal Interpretation ◽  
Good State ◽  
The Common ◽  
Research Questions ◽  
Statutory Regulation ◽  
Human Awareness ◽  
The Welfare State

In this study, the method of legal interpretation plays an important role in finding answers to research questions. In the study of statutory regulations, understanding a statutory regulation requires a separate understanding technique. Does the understanding technique itself use reading or interpreting techniques, but all of which must produce the common good. This common good is often called the bonum commune. In the study of legal philosophy, legal justice is the highest goal of law. In the concept of the welfare state, bonum commune is an entity related to the teleology of the felling of being well. Bonum commune doesn’t mean that we define a standard principle that must be enforced and apply to everyone. Bonum commune is related to human awareness as part of a community that needs each other and leads to a good state of society. The principle of synderesis when used to interpret the entire Regent Decree Number 20 of 1997, the legal solution was found, namely Batu Tiga Village existed before the Regent’s Decree Number 20 of 1997 because the statutory regulations that were ius constitutum originated from the prevailing customs in the community.

scholarly journals Two Alcohol Policy Editorials Interpreted by Opinion Makers

1996 ◽  
Vol 13 (1) ◽  
pp. 3-16
Author(s):  
Jukka Törrönen
Keyword(s):  
Civil Society ◽  
Welfare State ◽  
Social Order ◽  
Common Good ◽  
The State ◽  
Alcohol Policy ◽  
Medium Size ◽  
Know How ◽  
The Common ◽  
Paternalistic Approach

The article analyzes opinion makers' wiews on alcohol policy by way of textual reception analysis. The material is based on two editorials and their interpretations. One of the editorials is an argument defending a (neo)liberal alcohol policy. It describes the reality as one in which citizens feel hostility towards the State because it is preventing the emergence of a civil society and the development of independent, cultivated ways of drinking through its two-faced paternalistic approach. The second editorial is in favour of a regulated welfare state alcohol policy. Here the reality is seen as one in which the State spreads the common good and maintains social order and solidarity between citizens through means provided by scientific know-how. Fifty-five influential people (local authorities, trade unionists, journalists etc.) from Lahti, a medium-size city in southern Finland, contributed their interpretations of the two texts. The analysis of their textual reception reveals that the liberal rhetoric convinces them much more successfully than the pro-welfare state argument. More than two-thirds of them interpreted the (neo)liberal argument as more credible and truthful. The author suggests that the result reflects the opinion makers' wishes for a civil society, in which the freedom of choice of the consumer prevails.

Sign in / Sign up

Export Citation Format

Share Document