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Private and public value | The Enlightened Economist
In an echo of the wider debate about economic institutions, she argues that the Anglo-Saxon structures have become extractive or exploitative, rather than value-creating. I was briefly excited by her use of the term ‘public value’, with the BBC as an example; but she does not reference the political science literature on public value or that the BBC actually implemented formal public value processes. The book instead links the term to Elinor Ostrom’s work on collective decisions (wonderful as it is).
social-entrepreneurship  econbasics 
6 weeks ago by frederikmarain
Against Equality and Priority MICHAEL HUEMER
I start from three premisses, roughly as follows: (1) that if possible world x is better
than world y for every individual who exists in either world, then x is better than y; (2) that if
x has a higher average utility, a higher total utility, and no more inequality than y, then x is
better than y; (3) that better than is transitive. From these premisses, it follows that equality
lacks intrinsic value, and that benefits given to the worse-off contribute no more to the
world’s value than equal-sized benefits given to the better-off.
social-entrepreneurship  inequality 
6 weeks ago by frederikmarain
Marketcraft | The Enlightened Economist
Somewhat ironically, Vogel reflects on the same tension in Karl Polanyi’s The Great Transformation, noting that it both asserts that ‘the market’ becomes a separate sphere from society, commodifying a growing territory of life, and that the self-regulating free market is a myth because markets are always socially embedded.
econbasics  social-entrepreneurship  polanyi 
7 weeks ago by frederikmarain

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