The Invention Of Market Freedom

Addresses how the classical republican conception of freedom was challenged and finally overcome by the rise of modern market societies.

How did the value of freedom become so closely associated with the institution of the market? Why did the idea of market freedom hold so little appeal before the modern period and how can we explain its rise to dominance? In The Invention of Market Freedom, Eric MacGilvray addresses these questions by contrasting the market conception of freedom with the republican view that it displaced. After analyzing the ethical core and exploring the conceptual complexity of republican freedom, MacGilvray shows how this way of thinking was confronted with, altered in response to, and finally overcome by the rise of modern market societies. By learning to see market freedom as something that was invented, we can become more alert to the ways in which the appeal to freedom shapes and distorts our thinking about politics.

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 obscuring rather than enlightening. It obscures by making both the free market and the prison system seem natural and necessary. In the process, it facilitated the birth of the penitentiary system in the nineteenth century and its ultimate culmination into mass incarceration today.

This book examines whether different kinds of 'freedoms' (absolutist, parliamentary and republican) caused different economic outcomes, and shows the effect of different political regimes on long term development.

This book goes behind the success story of the Federal Republic of Germany since the Second World War to examine the principles underpinning the so-called "economic miracle." A.J. Nicholls examines the intellectual origins and history of the concept of the Social Market Economy, and its implementation in the difficult years of post-war devastation and recovery in West Germany. He traces the struggle of liberal economists to assert their ideas in the unfavorable circumstances from 1933 to 1948, when they triumphed with Erhard's implementation of a policy of liberalization following currency reform. The book analyzes the extent to which West Germany's economic success was due to Erhard's policies, and assesses his attempts to attain the goals of the social market up to 1963, when he became Federal Chancellor. Nicholls's study makes an important contribution to our understanding of the historical dynamics of the German economy and the political culture of the Federal Republic.

Winner of the PROSE Award An NRC Handelsblad Best Book of the Year “Ambitious and impressive...At a time when the very survival of both freedom and democracy seems uncertain, books like this are more important than ever.” —The Nation “Helps explain how partisans on both the right and the left can claim to be protectors of liberty, yet hold radically different understandings of its meaning...This deeply informed history of an idea has the potential to combat political polarization.” —Publishers Weekly “Ambitious and bold, this book will have an enormous impact on how we think about the place of freedom in the Western tradition.” —Samuel Moyn, author of Not Enough “Brings remarkable clarity to a big and messy subject...New insights and hard-hitting conclusions about the resistance to democracy make this essential reading for anyone interested in the roots of our current dilemmas.” —Lynn Hunt, author of History: Why It Matters For centuries people in the West identified freedom with the ability to exercise control over the way in which they were governed. The equation of liberty with restraints on state power—what most people today associate with freedom—was a deliberate and dramatic rupture with long-established ways of thinking. So what triggered this fateful reversal? In a masterful and surprising reappraisal of more than two thousand years of Western thinking about freedom, Annelien de Dijn argues that this was not the natural outcome of such secular trends as the growth of religious tolerance or the creation of market societies. Rather, it was propelled by an antidemocratic backlash following the French and American Revolutions. The notion that freedom is best preserved by shrinking the sphere of government was not invented by the revolutionaries who created our modern democracies—it was first conceived by their critics and opponents. De Dijn shows that far from following in the path of early American patriots, today’s critics of “big government” owe more to the counterrevolutionaries who tried to undo their work.

Written by a 15 YEARS OLD..."When I met Alvaro Martin I was amazed at how such a young talent could have the talent, commitment and the clarity of ideas that he displays in this excellent book. It is rare to find someone that, as such a young age, has such a profound understanding of important economic matters, and his precise argumentation in the much-needed task of debunking the interventionist agenda. Alvaro Martin, with his articles and this book, has created a body of work that is impressive for any expert, let alone for someone who is still in college. But he must persevere. The future is going to be very difficult. It is not "cool" or "sexy" to defend freedom. And he, like many others, will be criticized as anti-social. So, my dear Alvaro, the battle has just begun. Do not forget it."- Daniel Lacalle.Globalization and market freedom have been proved to be the best weapons in war against poverty and in search of economic growth. Globalization has not only helped with economic growth in developed countries, but much wider it has helped to promote employment and social development in emerging economies, breaking up the usual leftist argument against multinationals and market freedom. To me, Globalization has been the clearest example of market freedom and the development of libertarian ideas in the last century. Throughout this book, we will try to draw a detailed analysis of the different points and sectors where implementing market freedom policies is essential for growth and individual liberty, starting with a clear example of the route all nations should follow towards freedom, and which has demonstrated why capitalism works. The miracle of Globalization. In Defense of Freedom.

Adam Smith (1723–90) is perhaps best known as one of the first champions of the free market and is widely regarded as the founding father of capitalism. From his ideas about the promise and pitfalls of globalization to his steadfast belief in the preservation of human dignity, his work is as relevant today as it was in the eighteenth century. Here, Ryan Hanley brings together some of the world's finest scholars from across a variety of disciplines to offer new perspectives on Smith’s life, thought, and enduring legacy. Contributors provide succinct and accessible discussions of Smith’s landmark works and the historical context in which he wrote them, the core concepts of Smith’s social vision, and the lasting impact of Smith’s ideas in both academia and the broader world. They reveal other sides of Smith beyond the familiar portrayal of him as the author of the invisible hand, emphasizing his deep interests in such fields as rhetoric, ethics, and jurisprudence. Smith emerges not just as a champion of free markets but also as a thinker whose unique perspective encompasses broader commitments to virtue, justice, equality, and freedom. An essential introduction to Adam Smith’s life and work, this incisive and thought-provoking book features contributions from leading figures such as Nicholas Phillipson, Amartya Sen, and John C. Bogle. It demonstrates how Smith’s timeless insights speak to contemporary concerns such as growth in the developing world and the future of free trade, and how his influence extends to fields ranging from literature and philosophy to religion and law.