Lars Bräutigam

Markets, Financial Entities and the State

A Critique on the Economic View on Markets

18 Seiten · 3,22 EUR
(19. Juli 2016)

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from introduction:

The term “markets” contains a huge variety of aspects from modern economic life and the theoretical discourse on the market as an institution which increases welfare. In addition, recent political history saw the decline of alternatives to market economies on the one side and the growth of market liberalization and ideological agendas in favour of market forces and interests on the other. All these aspects get easily intermingled in political and theoretic statements about the present state of the economic system and its justification. Market ideology and theoretic arguments often refer to the breakdown of planned economies while promoting the advantages of market-based solutions to economic questions such as the scarcity of resources or the mediation of supply and demand. This perspective neglects that the theoretical ideas behind state driven economic supply models originated in the 19th century, when emerging market economies revealed the first inacceptable externalities.