Revisiting the magnetic poles of Karl Polanyi and Friedrich Hayek on the utopian springs of political economy, this book seeks to provide a compass for questioning the market economy of the twenty-first century. For Polanyi, in The Great Transformation, the utopian springs of the dogma of liberalism existed within the extension of the market mechanism to the 'fictitious commodities' of land, labour, and money. There was nothing natural about laissez-faire. The progress of the utopia of a self-regulating market was backed by the state and checked by a double movement, which attempted to subordinate the laws of the market to the substance of human society through principles of self-protection, legislative intervention, and regulation. For Hayek, in The Road to Serfdom, the utopia of freedom was threatened by the abandonment of individualism and classical liberalism. The tyranny of government interventionism led to the loss of freedom, the creation of an oppressive society, and the despotism of dictatorship that led to the serfdom of the individual. Economic planning in the form of socialism and fascism had commonalities that stifled individual freedom. Against the power of the state, the guiding principle of the policy of freedom for the individual was advocated. Taking these different aspects of market economy as its point of departure, this book promises to deliver a set of essays by leading commentators on twenty- first- century political economy debates relevant to the present conjuncture of neoliberalism. The chapters in this book were originally published in a special issue of the journal Globalizations.

Revisiting the magnetic poles of Karl Polanyi and Friedrich Hayek on the utopian springs of political economy, this book seeks to provide a compass for questioning the market economy of the twenty-first century. For Polanyi, in The Great Transformation, the utopian springs of the dogma of liberalism existed within the extension of the market mechanism to the 'fictitious commodities' of land, labour, and money. There was nothing natural about laissez-faire. The progress of the utopia of a self-regulating market was backed by the state and checked by a double movement, which attempted to subordinate the laws of the market to the substance of human society through principles of self-protection, legislative intervention, and regulation. For Hayek, in The Road to Serfdom, the utopia of freedom was threatened by the abandonment of individualism and classical liberalism. The tyranny of government interventionism led to the loss of freedom, the creation of an oppressive society, and the despotism of dictatorship that led to the serfdom of the individual. Economic planning in the form of socialism and fascism had commonalities that stifled individual freedom. Against the power of the state, the guiding principle of the policy of freedom for the individual was advocated. Taking these different aspects of market economy as its point of departure, this book promises to deliver a set of essays by leading commentators on twenty- first- century political economy debates relevant to the present conjuncture of neoliberalism. The chapters in this book were originally published in a special issue of the journal Globalizations.

Market Society: History, Theory, Practice explores the social basis of economic life, from the emergence of market society in feudal England to the complex and interwoven markets of modern capitalist society. This lively and accessible book draws upon a variety of theories to examine the social structures at the heart of capitalist economies. It considers how capitalism is constituted, the institutions that regulate economic processes in market society and the experience of living in contemporary market societies. Market Society: History, Theory, Practice provides students of both political economy and economic sociology with a more nuanced understanding of how markets and people interact and how this relationship has influenced the nature and structure of modern economies.

Since the 1980s, waves of neoliberal 'economic reform' have transformed Australia. Privatisation, deregulation, marketisation and the contracting out of government services- for three decades now, there has been widespread agreement among policymakers on the desirability of these strategies. But the benefits of economic reform are increasingly being questioned. Alongside growing voter disenchantment, new voices of dissent argue that instead of efficiency and improved services, economic reform has led to unaccountable oligopolies, increased prices, reduced productivity and degradation of the public good. In Wrong Way, Australia's leading economists and public intellectuals do a cost-benefit analysis of economic reform across key areas. Have these reforms been worthwhile for the Australian community and its economy? Have they given us a better society, as promised? 'Has privatisation led to more productivity-enhancing competition? Has deregulation increased economic welfare in energy, finance, health, education and labour markets? Does the lived experience of Australians measure up to the promise of economic reform? The authors answer these questions with conclusions that are both compelling and disturbing.' --Emeritus professor Roy Green, University of Technology Sydney Damien Cahill & Phillip Toner on Economic Reform Elizabeth Hill & Matt Wade on Early Childhood Education And Care Stephen Duckett on Private Health Insurance Phillip Toner on Vocational Education And Training Jane Andrew & Max Baker on Prisons Bob Davidson on Aged Care Paul Davies on Public Sector Engineering Sue Olney & Wilma Gallet on Employment Services John Quiggin on Electricity Jim Stanford on Labour Markets Evan Jones on Banking Peter Phibbs & Nicole Gurran on Housing Lee Ridge on The NBN Ben Spies-Butcher & Gareth Bryant on Universities Michael Beggs on Monetary Policy And Unemployment John Quiggin on Productivity Peter Brain on Orthodox Economic Models Patricia Ranald on Free Trade David Richardson on Foreign Investment Frank Stilwell on Inequality

Over the last two decades, 'neoliberalism' has emerged as a key concept within a range of social science disciplines including sociology, political science, human geography, anthropology, political economy, and cultural studies. The SAGE Handbook of Neoliberalism showcases the cutting edge of contemporary scholarship in this field by bringing together a team of global experts. Across seven key sections, the handbook explores the different ways in which neoliberalism has been understood and the key questions about the nature of neoliberalism: Part 1: Perspectives Part 2: Sources Part 3: Variations and Diffusions Part 4: The State Part 5: Social and Economic Restructuring Part 6: Cultural Dimensions Part 7: Neoliberalism and Beyond This handbook is the key reference text for scholars and graduate students engaged in the growing field of neoliberalism.