By Pierre Bourdieu
A devastating critique of free-market politics from exceptional sociologist Pierre Bourdieu. In his such a lot explicitly political paintings to this point, Pierre Bourdieu, France's major dissident highbrow, speaks out opposed to the withdrawal of the country from an important parts of social lifestyles. during this sharp, uncompromising assault at the dismantling of public welfare within the identify of non-public firm and international competitiveness, Bourdieu stands up for the pursuits of people, teams, and social routine whose perspectives are overlooked within the present weather of industry triumphalism. He deals a brand new imaginative and prescient of internationalism that may shield the collective and person social rights of standard humans opposed to the prerogatives of undefined. this crucial and well timed e-book, via one among our most eminent intellectuals, demanding situations us to reconsider the dominant political knowledge.
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Additional info for Acts of Resistance: Against the Tyranny of the Market
Welfare economics is an extreme case of this tendency. In welfare economics it is assumed that the state has all the relevant information for social-welfare-maximising intervention and is able to achieve what it sets out to do. 35): Politics are assumed to make things better. Political processes distribute wealth more equally with the result that the political and economic power of those who operate the economy is reduced. Political interference in the workplace protects labor from being victimized by management, and political actions afford consumers greater protection.
As the stylized fictive description of human motivation in economics, the homo economicus postulate holds that people are egoistic rational maximizers of their own welfare and forms the behavioural model of the so-called methodological individualism characteristic of economic science. l) delineated public choice theory as follows: 'Public choice can be defined as the economic study of nonmarket decision making, or simply the application of economics to political science. ' In stark contrast to the market failure paradigm of conventional welfare economics, public choice theorists denounce the 'benevolent despot' conception of government implicit in that approach, and instead have developed models of decision making in representative democracies based on the assumption '...
Fortunately, at least three separate genre of theories of government failure have been developed to fill this vacuum. We shall examine this literature in detail in Chapter 3. Thirdly, Demsetz's (1969) nirvana fallacy critique of the methodological underpinning of the theory of market failure has undoubted validity. The basic approach adopted by this paradigm of determining whether realworld market outcomes diverge from an equality of social costs and social benefits, thereby exhibiting allocative inefficiency, and the attendant policy prescription for corrective government intervention, is indefensible once the imperfection associated with all government action is recognized.