An emerging market is a country where politics matters at least as much as economics to the market.
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"Managing Risk in an Unstable World," Harvard Business Review (June 2005)Ian Bremmer
“The Third Way is neither anti-state nor anti-market; it sees both sides of the old politics as a positive force for progress. It simply seeks to balance them against the virtues of mutual trust and shared obligation. It is, uniquely in the politics of our time, pro-market, pro-state and pro-civil society.”
Mark Latham
This is what economics now does. It tells the young and susceptible (and also the old and vulnerable) that economic life has no content of power and politics because the firm is safely subordinate to the market and the state and for this reason it is safely at the command of the consumer and citizen. Such an economics is not neutral. It is the influential and invaluable ally of those whose exercise of power depends on an acquiescent public. If the state is the executive committee of the great corporation and the planning system, it is partly because neoclassical economics is its instrument for neutralizing the suspicion that this is so.
John Kenneth Galbraith
Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.
Paul Ormerod
One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.
Robert Gilpin
Annette’s communiqué is anodyne; a giggling confession off camera (shower-curtain rain in the background) that the famous Manfred Macx is in Paris for a weekend of clubbing, drugging, and general hell-raising. Oh, and he’s promised to invent three new paradigm shifts before breakfast every day, starting with a way to bring about the creation of Really Existing Communism by building a state central planning apparatus that interfaces perfectly with external market systems and somehow manages to algorithmically outperform the Monte Carlo free-for-all of market economics, solving the calculation problem. Just because he can, because hacking economics is fun, and he wants to hear the screams from the Chicago School.
Charles Stross
Bremmer, Ian
Bremner, Rory
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