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But once we bring historical time into the argument, it is not so easy to present the free play of the market as an ideal mechanism for maximizing welfare and securing social justice.
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Chapter IV, Increasing and Diminishing Returns, p. 63

 

Joan Robinson

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The political principle that underlies the market mechanism is unanimity. In an ideal free market resting on private property, no individual can coerce any other, all cooperation is voluntary, all parties to such cooperation benefit or they need not participate. There are no values, no "social" responsibilities in any sense other than the shared values and responsibilities of individuals. Society is a collection of individuals and of the various groups they voluntarily form.
The political principle that underlies the political mechanism is conformity. The individual must serve a more general social interest — whether that be determined by a church or a dictator or a majority. The individual may have a vote and say in what is to be done, but if he is overruled, he must conform. It is appropriate for some to require others to contribute to a general social purpose whether they wish to or not.
Unfortunately, unanimity is not always feasible. There are some respects in which conformity appears unavoidable, so I do not see how one can avoid the use of the political mechanism altogether.

 

Milton Friedman

 

“You had to play the big scene,” he said coldly. “Stand on your rights, talk about the law. How ingenuous can a man get, Marlowe? A man like you who is supposed to know his way around. The law isn’t justice. It’s a very imperfect mechanism. If you press exactly the right buttons and are also lucky, justice may show up in the answer. A mechanism is all the law was ever intended to be.”

 

Raymond Chandler

 

We must say openly that the present economic system of the EU is a system of a suppressed market, a system of a permanently strengthening centrally controlled economy. Although history has more than clearly proven that this is a dead end, we find ourselves walking the same path once again. This results in a constant rise in both the extent of government masterminding and constraining of spontaneity of the market processes. In recent months, this trend has been further reinforced by incorrect interpretation of the causes of the present economic and financial crisis, as if it was caused by free market, while in reality it is just the contrary – caused by political manipulation of the market. It is again necessary to point out to the historical experience of our part of Europe and to the lessons we learned from it.

 

Vaclav Klaus

 

We should have a State in which we could live and breathe as free men and which we could develop according to our own lights and culture and where principles of Islamic social justice could find free play.

 

Muhammad Ali Jinnah

 

A Theory of Justice begins with this assertion: “Justice is the first virtue of social institutions, as truth is of systems of thought. A theory however elegant and economical must be rejected or revised if it is untrue; likewise laws and institutions no matter how efficient and well-arranged must be reformed or abolished if they are unjust .... Truth and justice are uncompromising”. How, one might ask. do we know that justice has this preeminence? Rawls’s second basic claim is that we have a particular kind of access to this preeminence: we have an “intuitive conviction of the primacy of justice” over all other considerations including welfare, efficiency, democratic choice, transparency, dignity, international competitiveness, or freedom, and, of course, over any rooted moral, philosophical, or religious conceptions. There is no account of where these intuitions came from, whether they might be in any way historically or sociologically variable, or what role they play in society.

 

Raymond Geuss