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Showing posts with the label “the market”

The Existential Crisis of Mainstream Economics

Both conservative and liberal economists, in other words, continue to frame economics the way Lionel Robbins defined it, as the allocation of scarce resources among competing ends, which has rightfully earned the discipline the description of being the dismal science. For both schools, efficiency remains the prime consideration. Rather, the economic  problematique  should be, according to Deaton, the way his fellow Cambridge economist Keynes defined it: “how to combine three things: economic efficiency, social justice, and individual liberty.”

Commodify Your Dissent

It is a good summary. “ With the husk of revolutionary language retained, capitalism has encircled the very idea of leftist transformation. Pepsi may have  figured out how to create a resurrectionist Pepsi Generation in the 1960s , but now brands conjure group identities from inchoate public feelings by tailoring messages towards those who want to feel radical; Buzzfeed structured its entire business model around this approach for more than a decade. Change without change.” You may only to create an account to read the article.