Skip to main content
×
Home
    • Aa
    • Aa

LIBERALISM, ECONOMIC FREEDOM, AND THE LIMITS OF MARKETS

  • Debra Satz (a1)
Abstract

This paper points to a lost and ignored strand of argument in the writings of liberalism's earliest defenders. These “classical” liberals recognized that market liberty was not always compatible with individual liberty. In particular, they argued that labor markets required intervention and regulation if workers were not to be wholly subjugated to the power of their employers. Functioning capitalist labor markets (along with functioning credit markets) are not “natural” outgrowths of exchange, but achievements hard won in the battle against feudalism. Further, and crucially, the existence of such markets required closing off other market choices.

Copyright
Footnotes
Hide All
I would like to thank the other contributors to this volume, and its editors, for their helpful comments on an earlier draft of this essay.
Footnotes
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Social Philosophy and Policy
  • ISSN: 0265-0525
  • EISSN: 1471-6437
  • URL: /core/journals/social-philosophy-and-policy
Please enter your name
Please enter a valid email address
Who would you like to send this to? *
×