Comments on: Groucho Marx versus Market Suicidalism http://www.smokewriting.co.uk/2007/11/29/groucho-marx-on-market-suicidalism/ Another Fine Edition of Me Sat, 15 Aug 2009 11:30:47 +0000 http://wordpress.org/?v=2.8.6 hourly 1 By: Phila http://www.smokewriting.co.uk/2007/11/29/groucho-marx-on-market-suicidalism/comment-page-1/#comment-10295 Phila Thu, 29 Nov 2007 17:03:00 +0000 http://www.smokewriting.co.uk/2007/11/29/groucho-marx-on-market-suicidalism/#comment-10295 <i>One obvious rejoinder to Kay’s Hayekian view of the market as a source of reliable information about preferences is that there are interests which cannot be expressed through decisions in the market, but only through other forms of decision making (e.g. decentralised democratic politics).</i> And even if these interests could be expressed through the market, to the extent that Kay's view is seen as normative, they probably won't be. Intergenerational equity will always be the "wrong" preference, by definition. <i>We might even say that this excess of our relationships over their marketisation is arguably a ‘measure’ of well-being.</i> We might indeed! One obvious rejoinder to Kay’s Hayekian view of the market as a source of reliable information about preferences is that there are interests which cannot be expressed through decisions in the market, but only through other forms of decision making (e.g. decentralised democratic politics).

And even if these interests could be expressed through the market, to the extent that Kay’s view is seen as normative, they probably won’t be. Intergenerational equity will always be the “wrong” preference, by definition.

We might even say that this excess of our relationships over their marketisation is arguably a ‘measure’ of well-being.

We might indeed!

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