Chapter

Market Neutrality

David Miller

in Market, State, and Community

Published in print December 1990 | ISBN: 9780198278641
Published online November 2003 | e-ISBN: 9780191599903 | DOI: http://dx.doi.org/10.1093/0198278640.003.0004

Series: Clarendon Paperbacks

 Market Neutrality

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Liberals often claim that the state should be neutral between individual conceptions of the good life, and use this claim to defend economic markets. Neutrality can refer to the reasons offered for institutions and policies, or to their effects. The view defended here is that an institutional framework is neutral when under its auspices people's success at realizing their conceptions of the good depends only on natural factors such as their tastes and talents. Co‐operatives competing in the market with capitalist firms face difficulties in generating sufficient investment because of the incentives their members face. For neutrality to obtain, the market must be counterbalanced by public institutions that support non‐commodity‐based conceptions of the good.

Keywords: commodity; co‐operatives; good life; investment; liberalism; market; neutrality; Robert Nozick

Chapter.  10690 words. 

Subjects: Political Theory

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