The Illusion Of Free Markets: Punishment And The Myth Of Natural Order
  • The Illusion Of Free Markets: Punishment And The Myth Of Natural Order
  • The Illusion Of Free Markets: Punishment And The Myth Of Natural Order
  • The Illusion Of Free Markets: Punishment And The Myth Of Natural Order
ISBN: 0674066162
EAN13: 9780674066168
Language: English
Release Date: Nov 12, 2012
Pages: 336
Dimensions: 0.94" H x 9.21" L x 6.14" W
Weight: 1.06 lbs.
Format: Paperback
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Book Overview

It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious incendiary combination of free market efficiency and the Big Brother state has become seemingly obvious, but it hinges on the illusion of a supposedly natural order in the economic realm. The Illusion of Free Markets argues that our faith in free markets has severely distorted American politics and punishment practices.

Bernard Harcourt traces the birth of the idea of natural order to eighteenth-century economic thought and reveals its gradual evolution through the Chicago School of economics and ultimately into today's myth of the free market. The modern category of liberty emerged in reaction to an earlier, integrated vision of punishment and public economy, known in the eighteenth century as police. This development shaped the dominant belief today that competitive markets are inherently efficient and should be sharply demarcated from a government-run penal sphere.

This modern vision rests on a simple but devastating illusion. Superimposing the political categories of freedom or discipline on forms of market organization has the unfortunate effect of Read More chevron_right

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