Law, Legislation and Liberty
... The core theme that developed in Hayek's social philosophy was addressing the simultaneous challenges of making the best use of dispersed knowledge while adapting to unforeseen changes (Hayek, 1945(Hayek, , 1978(Hayek, , 1982. For Hayek (1978, p. 182), the market is a learning process of trial and error in which "practically every individual has some advantage over all others in that he possesses unique information of which beneficial use might be made, but. . . ...
... According to Mintzberg, they view strategy "as [a problem] of design to achieve an essential fit between external threat and opportunity and internal distinctive competence" (Mintzberg 1990, p. 171). Thinking of strategy this way is reminiscent of what Hayek (1982) called "constructivist rationalism," that is, the notion that only institutions that can have their relevant premises understood to substantiate a rational syllogism can be justified. It is also easy to see how this vision resembles the ideal of resource allocation under central planning so strongly criticized by Hayek: both view planning as a mechanical or technological process of gathering and analyzing data in order to generate a fit between either the internal and external environment (strategic planning) or the inputs and outputs of a production function (economic planning) (e.g., Hayek, 1948bHayek, , pp. 122-124, 1948d. ...
... Hayek and Mintzberg add that exploiting existing knowledge is an independent challenge. Whereas Mintzberg's main concern is learning, Hayek's (1982) social philosophy emphasizes the simultaneous challenges of making the best possible use of existing knowledge, adaptation, and social learning. ...
Henry Mintzberg’s celebrated critique of the “design school” argued that strategy is best thought of as adaptive, bottom-up, and based on dispersed knowledge and learning. Yet Mintzberg’s account lacks a clear and comprehensive theoretical underpinning, especially regarding how to guide emergent strategy in dynamic environments, and leverage it to exploit value creation. We provide this foundation by showing how Mintzberg’s critique of planning and design at the level of organizational strategy is in key ways anticipated by F.A. Hayek’s critique of planning and design at the societal level. Both writers are critical of rationalist epistemology and instead stress experiential knowledge, fallibility, and unanticipated social consequences. Hayek also extends Mintzberg’s work by showing how rules in the firm capture adaptive, experiential, tacit, and dispersed knowledge in the context of dynamic environments. A framework of rules thus creates inimitable and non-substitutable resources that enable the firm to fully exploit its competitive advantage.
... Although their development has been stimulated by the epistemic models (EDDs) discussed in chapter 2, they arch back to the postwar behavioural revolution in American political science, and are heavily influenced by the analytical approaches to democratic politics made available by the New Political Economy (NPE) (Mitchell 1967;Inman 1987). A synthesis of those perspectives was proposed at the end of the 1970s by F. A. Hayek (1982), Riker (1982) and other fathers of the neoliberal counter-revolution (Plehwe-Slobodian-Mirowski 2020). More recently, these perspectives have been revived by Jason Brennan (2016), and other political economists wishing to restrict deliberation to selected groups of experts. ...
... Following Schumpeter, a growing number of political economists has stressed the ability of individual entrepreneurs to anticipate individual desires and satisfy them by means of creative destruction (Kirzner 1973). Starting with Hayek (1982), others have stressed instead the civilising effects of impersonal rules brought about by processes of cultural evolution nobody can muster and should, therefore, attempt to tinker with. ...
Abstract: The chapter discusses rational choice critiques of democracy as the main inspiration for several contemporary examples of GDD. Although their development has been stimulated by the EDD models discussed in the next chapter, they arch back to the postwar behavioural revolution in American political science, and are heavily influenced by the perspectives spun by the New Political Economy. A synthesis of those perspectives was proposed at the end of the 1970s by F. A. Hayek, Riker and other fathers of the neoliberal counter-revolution. More recently, these perspectives have been revived by Jason Brennan and other political economists wishing to limit deliberation to selected groups of experts. In this context, "epistocracy" represents a conceptual alternative to the idea of foot-voting democracy subscribed by Ilya Somin and other neoliberal authors. By contrast with EDD, the analytical features that characterise GDD are derived from two juxtapositions: personal vs impersonal forms of guardianship, and instrumental vs procedural approaches to democratic politics. Democratic engagement is supposed to be limited to experts, rather than to specific forms of reasoning or non-controversial issues. The legitimacy of democratic politics is made dependent on the instrumental ability of practices, norms and institutions thus established to satisfy the needs of the people supposed to abide by them.
... To conclude: a deontic regulatory artifact generally presupposes the "nomic capacity" and the "symbolic capacity" of (both its designers and) recipients. The recipient of a regulatory deontic artifact must necessarily be both a nomic animal (i.e. a rulefollowing animal) [14], [60][61][62][63][64] and an animal symbolicum [14], [56] (on symbolism, see Sect. 3.1. ...
Generally, when thinking of artifacts, one imagines “technical artifacts”. Technical artifacts are those artifacts that perform a mere causal function. Their purpose is to instrumentally help and support an action, not to change behaviour. However, technical artifacts do not exhaust the set of artifacts. Alongside technical artifacts there are also artifacts that we can call “cognitive artifacts”. Cognitive artifacts are all those artifacts that operate upon information in order to improve human cognitive performances. Artifacts of a further, different kind are what we may call “regulatory artifacts”; that is, material artifacts devised and made to regulate behaviour. Consider a roundabout, a traffic light or a speed bump. These artifacts do not make us stronger, faster, or more intelligent. They are placed on the road surface to regulate traffic. This article investigates artifacts of this third kind and, especially, the functions that they perform.
... Hayek's works during the 1950-1975 period, such as The Constitution of Liberty (1960) and Law, Legislation and Liberty (1973, 1976, were viewed as abandonments of economics, whereas in reality he was drawing his readers attention to the institutional infrastructure within which economic activity is played out. But this was not understood at the time. ...
Carl Menger’s objective in his seminal book, Principles of Economics, was to elucidate a unified account of price formation. This raises a question, which motivates our paper: to what extent, if any, can Menger account for production not directly organized by the price mechanism, and therefore a theory of economic organization and its formation through time? We argue that implicit to Menger’s account of price formation is an account not only of institutional formation, but particularly economic organization. Thus, there exists a symbiotic relationship that can be found in Menger between a theory of price formation and a theory of organizational formation, both of which are by-products of an increasing division of knowledge brought about by an increasing scope of market exchange. Moreover, our point illustrates that Menger’s work is an analytical point of departure for a shared understanding of parallel developments in Austrian economics and organizational economics that have followed.
... In Hayek's approach, the key explanandum is not artifact but rules , namely those rules that, when followed even by those unaware of their nature or origin, generate social coordination ( Hayek, 1967( Hayek, , 1998. Examples include the grammatical rules of natural languages and the abstract principles embodied in the common law -one can speak the language or adjudicate a common-law dispute without being able to articulate the full set of rules that underlie the institution. ...
As design science advances into the foreground of entrepreneurship theory, we see a meta-theoretical tension between Simon's classic exposition of design and entrepreneurship theory's foundations within the Austrian school of economics. To resolve this tension, we argue that design science is mispositioned atop the conventional positivism that Simon embraced and is much better aligned with Austrian-style subjectivism of values, knowledge, and expectations. We elaborate design themes from classical contributions to Austrian economics to lay foundations for an “Austrian” approach to design. We conclude by illustrating how design processes are foundational to Austrian market theory and the Austrian theory of the firm.
... Rules are formulated to reduce uncertainty and also to lower transaction costs (Williamson, 1985). Hayek (1973) stresses two types of order: organization and spontaneous orders. Organization order is designed consciously, and spontaneous order is created by an evolutionary process of social selection. ...
China’s collective landownership was created by the revolutionary land reform in the early 1950s. Economic reforms since the early 1980s have dismantled the collective farming, but the collective landownership remains unchanged. Nonagricultural economies have manifested collective land rent in the dynamic urbanizing regions. The rural collective vigorously challenges the notion of collective land as a means of production that denies villagers’ claim of land rent. The contest for land rent through confrontation and negotiation with the urban state demonstrates a process of bottom-up informal institutional change. Without certainty, informal institutional change gives rise to substandard built environment that is unsustainable to the high-density urbanization. Formalization to legitimize the informal institutional change comes to minimize land rent dissipation so as to enhance welfare to both the urban state and rural collective. Land reform from below show an evolutionary route of institutional change to the collective land.
... Given the role of land value in securing the public interest, utilitarians accept the private property as an "essential evil" provided it retains its utility (Mill, 1999: 98), but argue that property rights, as a set of social laws that determines how individuals use re- Sheydayi and H. Dadashpoor Progress in Planning xxx (xxxx) 100647 sources (Slaev, 2019), should be regulated in a way that leads to the optimal use of properties for the public interest (Blomley, 2017;. Consequently, utilitarian liberals (von Mises, 1927;Hayek, 1982) see the right to private property as an advantage that the system ultimately brings to the individual. Although a version of utilitarianism was argued by Mill (1871Mill ( , 1884Mill ( , 1861 and helped to establish objective standards (cost, profit, etc.) of public interest, the problem of calculating utility remained unresolved. ...
The public interest has traditionally been a key reason for the legitimacy of planning. Although planning theory and practice are always shaped by a particular understanding of the public interest, it is a concept that is decidedly hard to define. Over the past century, from the beginning of modern planning to the present, various theoretical traditions of thinking about the public interest have emerged. In the course of this debate, the public interest as the normative content of planning has lost significance to the point of meaningless concepts. Many attempts have been made to revive the concept, but no studies have yet been conducted to explore and describe schools of thought in planning related to the public interest. In this study, using a meta-theory approach and emphasizing the similarities of previous classifications, we present comprehensive coalitions of the conceptions of public interest in planning as distinct schools of thought. In order to organize in a complex and diverse body of literature, we link these conceptions of public interest with relevant planning theories. In order to understand the evolution of these schools of thought, we traced their origin using a genealogical approach. As a result of applying this meta-theory approach, we arrive at a framework that consists of five different schools of thought. We distinguish utilitarian, justice-oriented, communicative, and elitist schools of thought in the mainstream of planning thought and one emerging school in the global south. Identifying these schools of thought contributes, on the one hand, to a clear understanding of how the public interest is defined and applied in planning theory and, on the other hand, helps theorists and professionals to expand the available knowledge base to understand the interwoven concepts of the public interest and planning.
... These are related to perspectives he terms 'divergentism' (an overwhelming divergence of interests that inhibits a shared sense of the public interest), 'dialogical proceduralism,' 'classical liberalism' and 'value-pluralism'. He then uses this review as a foundation upon which to advance his own public interest concept of 'nomocracy' rooted in the libertarian thinking of Hayek (1978Hayek ( , 1982, which he has developed and elaborated across a series of publications (Alexander et al., 2012;Moroni, 2010Moroni, , 2014. 4 While Moroni concludes with a concept of the public interest which difers from that of Howe, Alexander or Campbell and Marshall, his review nevertheless echoes their belief that 'one of the main tasks of planning and political theory is to rethink the public interest' (Moroni, 2018: 78). Angelique Chettiparamb (2016) furnishes one such means for rethinking the public interest. ...
Appeals to the ‘common good’ or ‘public interest’ have long been used to justify planning as an activity. While often criticised, such appeals endure in spirit if not in name as practitioners and theorists seek ways to ensure that planning operates as an ethically attuned pursuit. Yet, this leaves us with the unavoidable question as to how an ethically sensitive common good should be understood. In response, this book proposes that the common good should not be conceived as something pre-existing and ‘out there’ to be identified and applied or something simply produced through the correct configuration of democracy. Instead, it is contended that the common good must be perceived as something ‘in here,’ which is known by engagement with the complexities of a context through employing the interpretive tools supplied to one by the moral dimensions of the life in which one is inevitably embedded. This book brings into conversation a series of thinkers not normally mobilised in planning theory, including Paul Ricoeur, Alasdair MacIntyre and Charles Taylor. These shine light on how the values carried by the planner are shaped through both their relationships with others and their relationship with the ‘tradition of planning’ – a tradition it is argued that extends as a form of reflective deliberation across time and space. It is contended that the mutually constitutive relationship that gives planning its raison d’être and the common good its meaning are conceived through a narrative understanding extending through time that contours the moral subject of planning as it simultaneously profiles the ethical orientation of the discipline. This book provides a new perspective on how we can come to better understand what planning entails and how this dialectically relates to the concept of the common good. In both its aim and approach, this book provides an original contribution to planning theory that reconceives why it is we do what we do, and how we envisage what should be done differently. It will be of interest to scholars, students and practitioners in planning, urban studies, sociology and geography.
... For him, spontaneous order is always preferable to formed order because it is inherently more effective in guiding human choices. Merchant exchanges are pacifying because they are respectful of individual freedom, as no one can be forced to carry out an exchange that he does not want (Hayek 1978). The free trading system is boon or bane, glory or doom? ...
Export performance is an important research part of export study. Extensive empirical research has been carried out to identify and study the determinant factors of successful export performance. The factors associated with the three major axes of organizational, environmental, and managerial factors in the work of (Leonidou et al. 2002). The research aims to find how export performance is affected by environmental, organizational, managerial factors, especially, the psychic business distance and cultural distance, relationship management, international business travel, firms’ financial capabilities and complementary capabilities, specially, psychic distance – the extent to which the norms and values of two countries differ (Ford,1984, p. 102), when it comes to the potential interplay between business distance and cultural distance with managerial factors. The other observation is that international business depends gradually on transmitting complex information through vis-à-vis communication (Cristea, 2011). Companies vary in their performance because they use their resources in different ways (Shuleska et al. 2016). International business travel plays very important role in export business, especially for wine business, as the export managers practice ritual international business travel to meet the overseas prospective customers, organize wine tasting, participate in international wine fairs. Nevertheless, up to now, we have known very little about the impact of such travel on export performance.Hence, the thesis is organized as follows.First, we present a bibliometric study by analyzing 1344 publications from 1900 to 2019. Second, we examine the interacting effect of the two forms of psychic distance (business and cultural) on export relationship management. Specifically, this research examines the moderating role of cultural distance in the effect of business distance on different dimensions of relationship management and financial export performance. This research builds on a sample of 174 French export executives who were asked to rate their views of their relationship with their Chinese business counterpart in the wine trade,and their related performance. Third, we examine the impact of international business travel on export performance by integrating organizational factors (annual turnover) and strategic management (complementary capability) into the analysis with equally 174 French wine exporting firms.The systematic bibliometric study and two empirical studies reveal meaningful results which shed light on the export literature study and provides numerous contributions on the theoretical, methodological, and managerial levels related to export performance.
... Markets by themselves can only deliver a peculiar justice to those able to continuously access capital and navigate competitive pressures to do so. "Justice," in a Hayekian sense, is for those who survive the market (Hayek, 1978). ...
Oddly, criminal prohibition can lead to “commoning,” when individuals, left unprotected by state and formal property rights, innovate collective systems to access, use, and benefit from illegalized resources. “Legalization” entails the conversion of these prohibited commons to legal property systems, bringing new freedoms and liberties as well as the dispossession of collectively generated assets (material, relational, and otherwise). This paradox of legalization is currently playing out among U.S. states moving to legalize cannabis. Motivated by the failures of cannabis prohibition and its grievous harms, the question looms: How will states and markets grapple with the collectively generated assets and relational systems generated under prohibition? Building from ethnographic research and survey data, this article argues for recognition of the commoning practices that produced the resources upon which the legal market is based. These practices illuminate ways that legalization may deliver not only markets and regulation but also emancipatory justice in the wake of the War on Drugs. First, we document the commoning practices of cannabis cultivators, the collective benefits they generated under prohibition, and how legalization is affecting these practices and dynamics. Second, we explore strategies, like allotment and pricing systems, that build from prohibited commoning practices to achieve greater collective benefits and the emancipatory potential of legalization.
... Hayek is convinced that without this notion one cannot understand the complex phenomena of contemporary world (Hayek, 1993). Like Eucken, Hayek distinguishes two kinds of order: made, exogenous, artificial order (gesetzte Ordnung) and self-generating, endogenous order (gewachsene Ordnung) which is referred to as spontaneous. ...
Departing from the distinction proposed by J. Buchanan between thinking in economics in terms of the theory of choice and analysis in categories of exchange and coordination, we claim that the Hayekian concept of economic order has a significant heuristic potential and can be fruitfully used to explain some important socio-economic phenomena. The goal of this paper is to confirm this claim through the application of the concept of economic order in the analysis of economic transformation and the discussion of the relation between economic order and moral norms. The paper is organised as follows. Section I contains introductory remarks. In section II, the two systems of economic thinking and reasoning: the theory of choice and analysis in categories of exchange and coordination are briefly presented. Section III contains a discussion of the concept of economic order, its origin, relation to the Freiburg School notion Ordo, and J. Buchanan’s perspective on the market and exchange. In section IV, two areas of the application of the concept of economic order are presented: a) systemic transformation as a change in formal and informal institutions, their subjective representation by economic agents and the complex economic order, b) a relation between economic order and moral norms. Conclusions are drawn in section V.
... It also means that the concept of (managerial) personality, which is crucial for management, is based on Freud's mechanistic approach. The typical example is the collection of basic statements of the "father of Czech privatization" -active "believing" in the power of "free market" even referring to the "spontaneous order" of Friedrich August von Hayek (Hayek, 1973;Levitsky & Ziblatt, 2018) but without any contextual arguments (Němec, 2007). For too many years was not accepted and published no personal psychology for managers concentrated on values and sense or meaning of life descended from Jung, Adler, Frank, Fromm, and others. ...
The study aims to identify the typical key factors of ethical thinking and behaviour in Central and East European (CEE) countries, and regard them from the experience of privatization and transformation process in the Czech Republic. The background of ethical scandals and dilemmas of CEE countries reflects their roots in socialist education and state-planned economy, which are based on Marxism, which had and has serious consequences. The study describes the main philosophical reasons affecting the managerial limits in the ethical context of business and management behaviour after the transformation period with the apparent challenges in management thinking and executive education for today. The following description and interpretation of the fundamental implications of the presented analysis for managerial responsibility and ethics are discussed with the relevant professional literature that illuminates the personal, social and economic long-term consequences. Cross-country comparisons reflect developments in the European Union, the Amnesty International Corruption Index and other specific influences according to regional sources. Resulting challenges relate to challenges of business and management philosophy in business schools. The conclusion shows the space for the following professional discussion with European partners and PRME signatories regarding the ethical challenges for executive education and sustainability management in CEE. Recent academic publications show that managerial responsibility and ethical behaviour are increasingly in the focus of interest of both academics and company management.
... This is explicitly recognised in some national policy traditions, such as Mexico and Argentina (Ordorika 2003;Mollis, 1999Mollis, /2000. An adequate understanding of higher education's contribution to democracy cannot be read from liberal political economy alone as some have tried to do (Friedman 1962;Hayek 1979). At best definitions of public/private taken from law and political economy can address the contribution of higher education to democracy only as a subordinate aspect of collective public goods. ...
... The 1949 Basic Law in Germany-or legislation added to the constitution as amendments (the USA). Legislation is a sine qua non in post-modern societies (Hayek, 1973). ...
... At this point, anyone familiar with Austrian economics may have noticed that those ideas of the Harvard-MIT approach sound similar to some Austrian arguments, for example, the critique of the idea of equilibrium in the economy (Hayek, 1948a(Hayek, , 2002(Hayek, , 2012, 2 its equilibrating (Kirzner, 1992(Kirzner, , 2013 or disequilibrating (Lachmann, 1976(Lachmann, , 1986 forces; the role of tacit knowledge (Hayek, 1952;Koppl, 2018;Oğuz, 2010) and knowhow and its implications for the socialist calculation debate (Huerta de Soto, 2010); or that idea of the spontaneous order: the order resulting from human action but not from human design (Hayek, 1973). Indeed, we will refer below to several authors who have compared the works of Menger, Hayek, Lachmann or Don Lavoie with complexity theory, finding many similarities and parallelisms between it and Austrian economics. ...
In recent years, researchers from MIT and Harvard University have developed a complexity approach to economic development. This perspective implicitly follows some characteristic elements of the complexity scientific paradigm emerged in the second half of the twentieth century but focuses on a practical application to economic development. As in the more general theory of complexity economics, this Harvard-MIT approach has many points in common with Austrian economics. This paper highlights these similarities, concerning capital theory, entrepreneurship, a knowledge-based view of the economy, organizational capabilities, and economic growth. As a result of these similarities, we also present the policy implications derived from the shared elements of the two currents, which materializes in the idea that the Harvard-MIT approach can adopt the Market Policy Pogramme (MPP), conceived by David Harper as a practical application of the fundamental theoretical principles of Austrian economics.
... Sie seien vielmehr spontane Ordnungen, die das Verhalten der unabhängig voneinander agierenden Individuen durch allgemeine und unpersönliche Regeln koordinieren, um es jeder Person zu ermöglichen, von ihren besonderen Kenntnissen bestmöglichen Gebrauch zu machen und ihr Leben selbständig zu gestalten. Eine solche Ordnung, als deren Musterbeispiel Hayek den Markt betrachtet, biete zwar allen Individuen die Möglichkeit, ihre persönlichen Ziele zu verfolgen, sei aber außerstande, ein bestimmtes Gesamtergebnis im Sinne einer gerechten Verteilung begehrter Güter zu garantieren (siehe Hayek 1976). ...
Der Beitrag behandelt die Konzepte von Gerechtigkeit und Gleichheit im Kontext des gesellschaftspolitischen Diskurses der Moderne, in dem die Gestaltung staatlich organisierter Gesellschaften insgesamt, ihrer staatlichen Ordnung wie auch ihrer ökonomischen Verfassung, zur Debatte steht. Um die sehr komplexe Struktur der Ideen von Gerechtigkeit und Gleichheit zu erhellen, wird zunächst das Vokabular von Gerechtigkeit und Gleichheit untersucht, um seine vielfältigen Verwendungsweisen und die damit verbundenen normativen Forderungen herauszuarbeiten. Davon ausgehend wird dann die moderne Vorstellung sozialer Gerechtigkeit und Gleichheit in den Blick genommen und ihre grundlegenden Postulate an die politische und ökonomische Ordnung moderner Staaten skizziert.
... Hayek traduz aos seus próprios termos a ordem natural smithiana, ao mesmo tempo em que critica a ordem racional enrijecida dos complexos modelos matemáticos neoclássicos, cujo objetivo é demonstrar a superioridade do mercado. Sua teoria da evolução cultural analisa a evolução das sociedades até às sociedades complexas (great societies) como um processo de auto-desenvolvimento do mercado(HAYEK, 1983(HAYEK, [1937). Não à toa esta teoria se cristalizou na apologia e na retórica dos ultraliberais na defesa do mercado como a única forma de organização para as sociedades contemporâneas (GANEM,2012c). ...
Resumo: O objetivo do artigo é explorar a relação dialética entre a lógica do mercado e a lógica cultural no capitalismo contemporâneo. O ponto a identificar na ordem simbólica são as expressões políticas, artísticas, comportamentais, psíquicas, ou expressões culturais-tratada a cultura em seu sentido mais amplo, e que, ao fim e ao termo, reproduzem e reforçam a ordem do mercado capitalista e sua lógica. Se o capitalismo tem seus fundamentos definidos pela propriedade privada, pela concorrência, pelo individualismo é mister analisar os valores dele decorrentes no atual padrão globalizado da ordem capitalista. À descrença na construção de uma ordem alternativa desencadeada pela crise da utopia socialista em fins do século passado, se soma o conformismo ditado pela ideia que só o mercado capitalista é capaz de produzir riqueza e felicidade, ou em uma palavra do ideário neoliberal: a única solução possível para as sociedades contemporâneas. Entendemos que, apesar de avanços democráticos, reformas e resistências culturais, o mercado capitalista e sua lógica seguem invadindo espaços geográficos, sociais e os terrenos mais recônditos da subjetividade humana, com consequências desastrosas. É deste fenômeno que trata o texto. Palavras-chave: Lógica do Mercado Capitalista e Lógica Cultural. Economia e Cultura. Capitalismo Contemporâneo, Mercado e Cultura. Este artigo foi apresentado na forma de palestra no VII Congresso do HCTE, Scientiarum Historia VII, em 13 de novembro de 2014. Agradeço o convite dos organizadores e os comentários e sugestões dos presentes.
... У праві свобода пов'язана не просто з відповідальністю суб'єкта за свої дії, а з мірою відповідальності -ступенем осудності чи неосудності того чи іншого вчинку. У Новий час і аж до XX століття правова свобода полягає у праві робити все, що дозволяється законом і державою як його представником 6 . ...
... Nevertheless, energy equality could be considered unnecessary by some who might discount the need for policies that seek to establish equality as a guiding principle in energy policy. After all, libertarianism has long advocated against state interventions aiming at distributional justice policies while maintaining a need exclusively for procedural equality (Hayek, 1998;Bojer, 2003). ...
Energy Justice (EJ) and particularly Energy equality (EE), arguably a radical conceptualization of energy justice, advocated for distributional justice and policies addressing distributional inequalities. Distributional policies are known to be contentious and often raise debates on the opportunity to interfere with the free-market allocation of goods in capitalistic economies. Whether EE inspired policies might be considered implementable or not depends on their social acceptability. Therefore, holding on to previous research findings pointing to the higher acceptability of equitable climate policies and the relationship between economic inequality and environmental degradation, we analyse EU data regarding income and income and wealth inequality and data from the H2020 ECHOES project, which consists of an extensive European survey of household energy consumption attitudes. We found that economic equality accounts for 41% of the variance explained at the country level of our sustainable energy care index (SECI), accounting for sustainable energy attitudes. We conclude that the interplay between economic equality and sustainable energy attitudes deserves further attention and might warrant a broader discussion about distributive policies within and beyond the energy sector.
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In the last decade, interest in environmental, social, and governance (ESG) surged dramatically. This article contends that corporate perspectives on ESG—as managing risk and/or returning expected value—are insufficient to account for developments presently unfolding in the ESG finance space. There, novel derivative tools are being developed and deployed, promising to flip the sustainability market on its head. Unlike other sustainability metrics or strategies, ESG derivatives do not attempt to price a given firm’s risk profile in light of the environment, but rather seek to price the risk profile of environmental catastrophe itself. What this translocation of risk prophesies is the direct application of financial engineering to the climate. In this article, re-visiting the late work of Friedrich Hayek and tracing his legacy in Michel Foucault’s lectures on neoliberalism frames my argument that the modern financial system from which these derivatives spring is best understood as a cybernetic one. Cybernetic systems are ones that endeavor to negate entropy and maintain organization by means of information feedback loop-based learning; in finance, this takes the form of Hayekian price discovery. With ESG derivatives, the system of cybernetic finance is presently setting to work converting climate uncertainty into pricing efficiency. Because derivatives such as these represent the polity’s most advanced media for the meaningful sensation of threats, what emerges about the environment from the trade of these products will soon be fed backwards as a powerful set of inputs to governance, shaping how the climate is brought into representation and what responses to its associated crises are possible.
El neoliberalismo entrega al Estado la tarea de vigilar las leyes del mercado y emplea la competencia para guiar políticamente a los socios. La consecuencia es el aislamiento del individuo frente al mercado, que estará obligado solo a reaccionar automáticamente a sus estímulos. De ahí que valorice el constitucionalismo antifascista, que promueve la democracia económica, además de la política. Así las cosas, el Estado estará obligado a realizar la paridad sustancial fuera del mercado, con el Estado de bienestar, pero también en el mercado, equilibrando la debilidad social con la fuerza jurídica. Los poderes públicos deben redistribuir las armas del conflicto social y de ahí lograr la repoliticización del orden económico. Abstract: Neoliberalism gives the State the task of monitoring the laws of the market and, in this sense; it uses competition as a tool for the political direction of its members. The consequence is the isolation of the individual from the market, which condemns him to have only the behaviors that are automatic reactions to the stimuli produced by it. An alternative to this situation is to strengthen anti-fascist constitutionalism, which promotes economic democracy as well as political democracy. In this scenario, the State is obliged to implement substantial equality outside the market through welfare, but also in the market itself, balancing social weakness with legal force. Thus, it is the task of the public authorities to redistribute the weapons of social conflict and, in this way, to re-politicize the economic order.
O presente trabalho tem como escopo a abordagem do instituto da propriedade enquanto mecanismo de gestão de escassez, fazendo-o sob a ótica da disciplina Análise Econômica do Direito, que busca ampliar a compreensão de fenômenos jurídicos a partir da utilização de ferramental teórico da economia. É realizada a distinção entre os modos público e privado de definição de propriedade, fazendo comparativos quanto aos custos sociais originados de cada um deles e as possíveis vantagens de suas implementações. Feita a contextualização, busca-se investigar a aptidão do Bitcoin como instrumento de definição de propriedade de forma independente do Estado, com incursão nas características tecnológicas e na política monetária desse ativo, bem como nas diferenças existentes entre propriedade física e propriedade digital.
The world today confronts unprecedented needs for governance having profound implications for human well-being that are difficult - perhaps impossible - to address effectively within the prevailing global political order. This makes it pertinent to ask whether we must assume that the global order will continue during the foreseeable future to take the form of a state-based society as we think about options for addressing these challenges. Treating political orders as complex systems and drawing on our understanding of the dynamics of such systems, the author explores the prospects for a critical transition in the prevailing global political order. Individual sections analyze constitutive pressures, systemic forces, tipping elements, the effects of scale, the defining characteristics of potential successors to the current order, and pathways to a new order. In the process, seeking to make a more general contribution to our understanding of critical transitions in large political orders.
Сквозь призму исследовательского проекта Российского фонда фун- даментальных исследований (РФФИ) «Безусловный базовый доход как
регулятор повышения уровня и качества жизни: теоретико-методологиче- ское обоснование, переходные формы и инструментарий для тестирования
в России» (No20-010-00271), выполненного в Научном центре экономики
труда Российского экономического университета им. Г.В. Плеханова (РЭУ)
в 2020–2022 гг., рассматривается феномен универсального базового дохода
(УБД): теоретико-методологические основы; современное состояние ис-
следований и страновые эксперименты; оценивание готовности России к
введению переходных форм базового дохода (БД) российскими экспертами
и респондентами; профили приоритетных категорий для выплаты БД; по-
становка и моделирование экспериментов по установлению БД.
Монография адресована специалистам, аспирантам и студентам, занима-
ющимся проблемами труда и занятости, повышения уровня и качества жизни.
Unsere Daten stammen aus zwei Reihen zuverlässiger und regelmäßig wiederholter globaler Meinungsumfragen: dem World Values Survey (WVS) und dem European Social Survey (ESS). Unsere statistischen Berechnungen wurden mit dem routinemäßigen und standardmäßigen Statistikprogramm IBM-SPSS (IBM-SPSS XXIV) durchgeführt und stützten sich auf die sogenannte schräge Rotation der Faktoren, die der Korrelationsmatrix zugrunde liegt. Bei jedem Vergleich haben wir das demokratische zivilgesellschaftliche Engagement der Gesamtbevölkerung und der praktizierenden römischen Katholiken, d. h. der Katholiken, die regelmäßig die Sonntagsmesse besuchen, bewertet. Unsere Ergebnisse warnen eher davor, dass die katholische Weltöffentlichkeit der erheblich geschwächten Führungsrolle der Kirche bei der Befürwortung einer liberalen Asyl- und Migrationspolitik folgen wird. Die überwältigende Stärke des noch vorhandenen katholischen Aktivismus ist im globalen Süden zu finden, während die entwickelten Länder stark von der Säkularisierung betroffen sind. Auf der Grundlage von Kriterien, die sich auf die Europäische Sozialerhebung (ESS) stützen und zu denen eine einwanderungsfreundliche Haltung, Euro-Multikulturalismus, die Ablehnung von Rassismus, persönliche multikulturelle Erfahrungen und die Ablehnung eines rechtsgerichteten Kulturalismus gehören, kann man mit Fug und Recht behaupten, dass praktizierende Katholiken in keinem einzigen europäischen Land eine liberalere Einstellung zur Einwanderung haben als die Gesellschaft insgesamt.
Artikkelissa tarkastellaan kriittisesti innovaatioita koskevia valtavirtanäkemyksiä nykykapitalismille ominaisina ajatusmuotoina. Esitys nojautuu ns. Projekt Ideologie-Theorien (PIT) kehittelemään ideologiateoreettiseen näkökulmaan ja käsitteistöön. Ideologiateoreettisesta perspektiivistä innovaatiota voi luonnehtia ”ideologiseksi arvoksi”, johon eri ideologiset mahdit vetoavat pyrkiessään organisoimaan hegemoniaansa. Artikkelissa käydään aluksi läpi hallitsevia tapoja ymmärtää innovaatioita. Tarkastelen yhtäältä suomalaisen innovaatiopolitiikan kehitystä ja toisaalta taloustieteellisesti suuntautuneen innovaatiotutkimuksen päälinjoja. Tätä seuraa kuvaus siitä, miten teknologisen innovoinnin asemaa kapitalismissa on lähestytty marxilaisessa tutkimusperinteessä, minkä jälkeen analysoin innovaatiopuhetta kapitalismin uusliberaalille suhdanteelle ominaisena ilmiönä. Artikkelini keskeisenä väitteenä on, että valtavirtaisella innovaatiopuheella on poliittisesti ja ideologisesti merkittävää populaaria vetovoimaa, joka perustuu sen loihtimille mielikuville luovuudesta, yrittäjyydestä, kilpailukyvystä ja talouskasvusta. Ne muodostavat positiivisen markkinaliberaalin vastinparin uusliberalismin autoritaarisille ja kurinalaistaville piirteille. Artikkelin lopussa pohdin sitä, uhkaako uusliberalismin nykyinen ”orgaaninen kriisi” hallitsevien markkinavetoisten innovaationäkemysten asemaa sekä tarkastelen sitä, minkälaisia vaihtoehtoja niille on esitetty.
This book aims to connect narratives associated with the past to the international regime that protects property and contract rights of foreign investors. The book scrutinizes justifications offered to sustain practices associated with colonialism, imperialism, civilized justice, debt, and development, revealing that a number of the rationales offered in support of investment law disciplines replicate those arising out of this discredited past. By revealing these linkages, the book raises concerns about investment law's premises. It would appear that the normative foundations for today's regime reproduces discursive practices that are less than compelling. The book argues that citizens deserve something more than historically discredited reasons to justify the exercise of power over them – something more than mere pretext.
The argument of this paper is that Jacques Rueff and F.A. Hayek can be made to have a constructive dialogue that informs our understanding of how both authors approached such issues as the role of government in society and the meaning of spontaneous order. Through an analysis of their uses of the price mechanism as an ordering principle, and an examination of how they both moved towards a legal-institutional approach to understand the world, the common elements in their systems are brought out and fitted in a longer liberal tradition concerned not only with the meaning of competition, but with the conditions fostering the emergence of social order in the midst of individual chaos. Rueff’s involvement in the construction of the European Coal and Steel Community gives an interesting application of their systems to a concrete experiment in creating a rational economic order in postwar Europe. The examination of the case law of the Court of Justice of the Community demonstrates how much the principle of competition was subordinate to a political ideal of peace relying on limiting governments to prevent wars, a mechanism at the center of both Hayek’s and Rueff’s systems.
Zoonoses and endemic diseases proliferate as a consequence of the ruthless globalization of nature. By losing its heterogeneity and situatedness, SARS-CoV-2 has become a ‘neoliberal virus’; it has reinforced neoliberalism’s pretense to embody the logic of socio-natural evolutionary forces. Innocuous in its ecological niche, in the context of the neoliberal world-ecology, the peculiar reproductive happiness of SARS-CoV-2 means mad proliferation and homicidal fury.KeywordsNeoliberalismGlobalizationState of natureNomos of the Earth
Before neoliberalism became global, it was an intellectual project that had a particular view of the power of constitutions to limit sovereign states, anchor economic freedoms and protect markets from democratic pressures for greater equality. In Latin America and the developing world, neoliberalism has long been identified with the political economy of the Washington Consensus. However, the comprehensive study of its legal foundations and institutional arrangements is still an area of limited scholarly attention. This article attempts to advance in that direction. By examining the work of Friedrich A. Hayek, Milton Friedman and James M. Buchanan, it explores a theory of neoliberal constitutionalism within Chile, the so-called first neoliberal laboratory. These authors visited the country during the Pinochet dictatorship (1973–90), and were connected with top Chilean authorities as part of their global ambitions to implement their theoretical agendas in real-world scenarios. The article argues that Chile’s constitution-making process between 1973 and 1980 offered an on-site experiment in introducing neoliberal’s radical economic transformation. It addresses how the dictatorship’s natural law-based rule of law principles were compatible with the neoliberal constitutional ideology by supporting a distinctive view of the state’s role and designing the innovative institutional arrangements necessary to guarantee the market’s priority in the structural and rights dimension of the 1980 Constitution. In the wake of Chile’s recent constitutional change agenda, this article not only contributes to the existing debate by reflecting on the ideological origins of the still-persistent constitutional neoliberal features, but also works as a case study for evaluating new global turns towards authoritarian neoliberal politics.
The conception of property is usually moulded upon diverting historical and political-philosophical frameworks. The current interest on the commons illustrates these divergences when they come up between a ‘pure’ public and a ‘pure’ private form of ownership. This conceptual triad misleads by conflating private property with an absolute property right while equating public property with a centralised political regime. This article traces the republican conception of property in order to show how it draws a legal and philosophical continuum around different forms of ownership, based on a fiduciary principle underlying the relationship between the sovereign or principal (trustor) and its agent (trustee). Despite modern socialism apparently left aside the question of the commons, the republican-fiduciary rationale was reformulated according to the modern industrial capitalist society.
The key conceptual barrier to understanding uniformity and national uniform legislation is the diverse terminology. This creates the problem of identifying exactly what national uniform legislation is and is not. National uniform legislation is alternatively defined as either: (1) legislation drafted as agreed on by a ministerial council or terms of an intergovernmental agreement or (2) a product of harmonisation or legislation developed and drafted in substantially similar terms. However, the term ‘harmonisation’ is ambiguous. What is considered ‘uniform’ is similarly ambiguous and amorphous. Thus, this chapter defines the terms ‘national uniform legislation’ and ‘harmonisation’; and provides some delineation between the levels of uniformity applicable to national uniform legislation through a model. The main distinction lies in delineation of ‘intended harmonisation’ as a deliberate process through which Australian jurisdictions achieve uniformity as agreed upon by a ministerial council or according to the terms of an intergovernmental agreement and ‘spontaneous harmonisation’, in contrast, as a process through which Australian jurisdictions, in a voluntary, unprompted and uncoordinated way, harmonise the legal rules. This chapter also provides definitions of the primary structures of national uniform legislation: mirror, applied and referred. If required, legislation can be implemented with different structures across jurisdictions, forming a hybrid structure.
The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread. (Jacques Anatole François Thibault)
The social sciences have been divided into departmental silos for far too long, yielding at best partial insights among economists, political scientists, and sociologists. The most influential attempt at integration, economic imperialism, distorted our understanding of processes with looser constraints than among producers in competitive markets. The theory of spontaneous order, first developed by Michael Polanyi and Friedrich Hayek in the 1940s and 1950s, offers a more promising framework for interdisciplinary social theory. It does not rely on unrealistic assumptions of maximizing behavior, unlike rational choice theory borrowed from neoclassical economics. It is compatible with psychological findings on human behavior, recognizes the heterogeneity of resources and constraints in different social orders, and pays attention to historical processes of individual and social learning. Spontaneous-order theory provides a unified framework for four key orders of decentralized human interaction: the cultural, democratic, market, and scientific orders. Each such order is associated with order-specific resources. Order participants face constraints, but these constraints are not always the same, even within the same order. For example, competing producers face relatively tight break-even constraints, which make their actions unusually predictable. In contrast, consumers in a market order or politicians in a democracy face looser constraints. They are not compelled to maximize utilities or votes, but their relatively loose constraints nevertheless make many potential actions infeasible. Consumption requires money and policies require votes and resources. Exact predictions become impossible, but spontaneous-order analyses offer the promise of more reliable pattern predictions.
This article explores a possible bargaining-based account of the U.S. Constitution and its impact on intention-based originalism. I argue that the bargaining approach leads to a characterization of original intent in terms of rules in equilibria. The adoption of the U.S. (Federal) Constitution is the institutional result of coordination among a plurality of State agents with opposed interests and political views. Game theory might offer a rational reconstruction of the constitution-making process: under the game-theoretic model, the Constitution is the product of a series of intentional actions performed by individual agents behaving mainly as selfish individuals or group utility maximizers. These agents operate within a specific institutional framework. Game theory saves the intuition that law-making at the constitutional method can be effectively understood as a rational process. What is more, it might justify an originalist method for constitutional interpretation: we shall interpret constitutional provisions in light of their underlying equilibria.
This article conceptualizes recent momentum for basic income in the context of the legitimization crisis of neoliberalism and the dissolution of the ‘progressive neoliberal’ governing bloc that secured its hegemony for more than two decades. Through an assessment of the ideas of Friedrich Hayek and Milton Friedman, it argues that basic income is one of the few policy solutions in the mainstream discourse that improves social welfare and income security, while also remaining consistent with neoliberalism’s inner logic. Accordingly, it holds the potential to temporarily stabilize neoliberalism’s political crisis by offering a consensus issue around which a new centrist coalition could emerge. Although much of the basic income literature has focused on grassroots coalitions and synergies between left and right, it has largely overlooked the emergence of the historical forces that have pushed it onto the mainstream policy agenda.
This article explores concepts under a rubric termed ‘jural’, the meaning of which is differentiated from ‘legal’. Within the conceptualisation of the modern nation state, there are two categories of jural relationships. In the first, both parties have equal jural standing (equal–equal), as between neighbours. In the second jural relationship (superior–inferior), one party has standing as a special jural player, essentially the governor. The jural superior wields the coercive powers of government. Human beings, we argue, are predisposed to folding this jural superior back into the equal–equal relationship, thus notionally collapsing two relationships back to one, or collapsing from jural dualism into jural monism. Two varieties of the tendency stand out, namely collectivist thinking that sees government as a set of rules and arrangements arrived at voluntarily, and Rothbardian libertarianism that sees government as a criminal organisation and proposes its elimination. But, beyond those two varieties, we see traces and tinctures of the tendency towards jural monism. We call for a conscious embrace of jural dualism.
This paper offers a critique of laissez-faire objections to the guild system from the perspective of Catholic social teaching a presents the economic reasons for a restoration of the guild system as a functional economic model. The laissez-faire argument is that 1) the free competition on the supply side is in the best interest of the consumer, 2) each member of the society is a consumer, 3) ergo: free competition on the supply side is a common good, i. e. a goal which the state should follow. The author argues that 1) unlike majority of goods and services, two goods are becoming scarcer as a result of free competition on the supply side: time and land, 2) consumers which prefer consumption of leisure time and land are worse off as a result of free competition on the supply side, 3) ergo: the conclusion that free competition on the supply side is always a common good is invalid. According to the author, leisure time and land are essential for a good operation of a well-functioning family which is essential for a well-functioning state. In this connection, the author contends that the primary goal and raison d’etre of the guilds is control of the entrance of new producers to the industry, so that the incumbents who want to pay just (family) wages and/or prefer leisure time necessary for operation of a well-functioning family are not forced to change their behavior by the competitive pressure of the newcomers. Besides, a control of the entrance will limit the pressure to lowering wages below the level of the just (family) wage. To the objection of “no free lunch” the author responds: yes, the employers are facing a trade-off. In exchange for a possibly high but uncertain profit margin they will receive a lower but certain profit margin. To the objection of allocational inefficiency and economic stagnation resulting from suppressing external innovations, the author responds: 1) an external innovator can have his discovery patented and instead of the transitory entrepreneurial profit enjoy the incomes from the licenses; 2) the competitive pressure is only one possible drive of the economic growth, another drive is the human laziness which is constant across the economic systems.
Due to the need of a necessary effort of coagulation and ordering, the authors attempt to place within the Brundtland Agenda’s structure of ideas the main ones that claim to define mainstream economics. This bold endeavour conveys the idea that there are three main areas that require work so that the mainstream could resonate with the Brundtland aspirations. Firstly, it must reconsider the role of the standard of value in the fight against the risks that accompany limitless “relaxations” (of the monetary kind). Secondly, the state, the bank and bankruptcy must be returned to the roles configured by the Adamist school. Thirdly, it must figure out why central banks refuse the natural rate of interest. The authors consider that this last area offers the starting point to thoroughly redirect the economy on the true course of sustainable development.
Parallels have been drawn between the 1930s and today, notably the existence of unstable economic conditions as well as deepening, antagonistic ideological divisions. In the 1940s, two books appeared that presented opposing diagnoses of, and remedies for, the problems that faced Western societies at that time. In Man and Society, Karl Mannheim argued that forms of political organization had not adapted to changing social, economic, and technological conditions, and that this explained the rise of communism and fascism. He insisted that, in order to avoid disorder and political extremism, liberal democracies needed to engage in greater planning of their economic and social affairs, with sociology providing the synthesis of scientific knowledge required for this. Just a few years later, Friedrich Hayek published The Road to Serfdom, in which Mannheim's work was a central target. He insisted that only the preservation of liberal freedoms and competitive markets could prevent the spread of totalitarianism. This paper outlines the arguments of each of these authors and provides an account of some of the historical background against which their disagreement arose. It also explores the relevance of their very different positions today, at a time when the neoliberal ideology that Hayek championed continues to have great influence but is under increasing attack from across the political spectrum.
This paper explores the potential for stakeholder theory to illuminate what F.A. Hayek called “the knowledge problem”, pertaining to how a society manages to utilize “knowledge not given to anyone in its totality”. According to Hayek, this problem is addressed by the price system, which induces economic actors to harness local and dispersed pieces of knowledge that would not be available to a central planner. The present paper argues that the growing turbulence in the business environment, as pointed out by stakeholder theorists, poses a challenge to the ability of corporate managers to harness local knowledge. Stakeholder theory is shown to imply that, in a turbulent environment, managers’ ability to do so is increasingly dependent on their access to the knowledge held by corporate stakeholders. This argument suggests that the building of stakeholder relationships is a crucial institutional solution to the knowledge problem.
We explore themes in Nobel Prize–winning economist James M. Buchanan’s work and apply his Ethics and Economic Progress to problems facing individuals and firms. We focus on Buchanan’s analysis of the individual work ethic, his exhortations to “pay the preacher” of the “institutions of moral-ethical communication,” and his notion of law as “public capital.” We highlight several ways people with other-regarding preferences can contribute to social flourishing and some of the ways those who have “affected to trade for the public good” might want to redirect their efforts. We show how Buchanan’s work has considerable implications for business ethics. Just as his economic analysis of politics changed how we understand government, we think his economic analysis of ethics can (and should) change how we understand business.
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