Author : David M. Levy
Publisher : Cambridge University Press
ISBN 13 : 1108691757
Total Pages : pages
Book Rating : 4.1/5 (86 download)
Book Synopsis Towards an Economics of Natural Equals by : David M. Levy
Download or read book Towards an Economics of Natural Equals written by David M. Levy and published by Cambridge University Press. This book was released on 2020-01-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Virginia School's economics of natural equals makes consent critical for policy. Democracy is understood as government by discussion, not majority rule. The claim of efficiency unsupported by consent, as common in orthodox economics, appeals to social hierarchy. Politics becomes an act of exchange among equals where the economist is only entitled to offer advice to citizens, not to dictators. The foundation of natural equality and consent explains the common themes of James Buchanan and John Rawls as well as Ronald Coase and the Fabian socialists. What orthodox economics treats as efficient racial discrimination violates the fair chance entitlement to which people consent in a market economy. The importance of replication stressed by Gordon Tullock, developing themes from Karl Popper, is another expression of natural equality since the foresight of replication induces care into research. The publication of previously unpublished correspondence and documentation allows the reader to judge recent controversy.