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
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- 13 A Return to Laissez Faire?
- 14 The Policies of Market Fundamentalism
- 15 The Growing Importance of Monetary Policy
- 16 Equity Aspects of Market Fundamentalism
- 17 Other Aspects of Market Fundamentalism
- 18 Cultural Aspects of Market Fundamentalism
- 19 Growing Conflict between Efficiency and Equity
- 20 Intellectual Property and Venture Capitalists
- 21 The World in the Twenty-First Century
- 22 The Impact of New Economic Developments on the Market and Democracy
- 23 More on Economy and Culture in the Present Time
- 24 Some Summing Up and Concluding Observations
- References
- Index
18 - Cultural Aspects of Market Fundamentalism
from Part III - The Period after the 1970s
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
- Part II From Laissez Faire to Welfare States: 1930 to 1970
- Part III The Period after the 1970s
- 13 A Return to Laissez Faire?
- 14 The Policies of Market Fundamentalism
- 15 The Growing Importance of Monetary Policy
- 16 Equity Aspects of Market Fundamentalism
- 17 Other Aspects of Market Fundamentalism
- 18 Cultural Aspects of Market Fundamentalism
- 19 Growing Conflict between Efficiency and Equity
- 20 Intellectual Property and Venture Capitalists
- 21 The World in the Twenty-First Century
- 22 The Impact of New Economic Developments on the Market and Democracy
- 23 More on Economy and Culture in the Present Time
- 24 Some Summing Up and Concluding Observations
- References
- Index
Summary
Some individuals had great influence in changing the cultural background during the years of market fundamentalism. The first of these individuals was Milton Friedman who in those years acquired a prominent status as a public intellectual. With his writings and public pronouncements, he made individual economic liberty and economic efficiency the only goals worth pursuing in a market economy. He gave no role to the pursuit of collective goals. The second individual was Jack Welsh. He had enormous influence on behavior in the corporate sector with his pursuit of profits at any cost and at much cost to workers. He created a corporate culture that became predominant, and that totally ignored the welfare of workers. The third individual was Newt Gingrich, who changed political relations transforming them into a contact sport. Political opponents became enemies to be defeated and not colleagues who just had different political views. Politics in the United States never recovered.
- Type
- Chapter
- Information
- Monitoring the State or the MarketFrom Laissez Faire to Market Fundamentalism, pp. 134 - 138Publisher: Cambridge University PressPrint publication year: 2023