Book contents
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- 1 Introduction
- 2 Early Views on the Economic Role of the State
- 3 Laissez Faire and the Industrial Revolution
- 4 The Beginning of Economic Reforms
- 5 On Resource Allocation, Optimality, and Equity
- 6 Beginning of Changes in the Activities of Governments
- 7 Toward Larger Government Roles
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- References
- Index
4 - The Beginning of Economic Reforms
from Part I - The Period until the Great Depression
Published online by Cambridge University Press: 07 December 2023
- Monitoring the State or the Market
- Monitoring the State or the Market
- Copyright page
- Contents
- Preface
- Acknowledgments
- Part I The Period until the Great Depression
- 1 Introduction
- 2 Early Views on the Economic Role of the State
- 3 Laissez Faire and the Industrial Revolution
- 4 The Beginning of Economic Reforms
- 5 On Resource Allocation, Optimality, and Equity
- 6 Beginning of Changes in the Activities of Governments
- 7 Toward Larger Government Roles
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- References
- Index
Summary
This chapter covers: the beginning of reforms: first of constitutional and then of economic reform; laissez faire continues to be the popular ideology for economists; growing contrast between laissez faire and socialist ideologies; laissez faire continues to stress the pursuit of efficiency and growth over that of equity; socialism stresses the promotion of equality; many forms of socialism are developed; Darwinian views of laissez faire continue to prevail in the United States and in the United Kingdom; laissez faire continues to ignore equity; the income distribution becomes more uneven; economics becomes progressively more “scientific” with the increasing use of mathematics; and the concept of equilibrium continues to prevail and its impact on policies remains strong until 1930.
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- Monitoring the State or the MarketFrom Laissez Faire to Market Fundamentalism, pp. 25 - 28Publisher: Cambridge University PressPrint publication year: 2023