Ramanan — The Writings Of Joan Robinson

A couple of memorable quotes about laissez-faire aka neoliberalism. The assumption that so-called freedom (liberalism) naturalistically leads to the greatest good (utility) for the greatest number (utilitarianism) is a hypothesis about the world that is not borne out in experience. 

An objection is that disequilibrium shows that all impediments to freedom have therefore not yet been removed. There are two difficulties with this assertion. 

First, it makes the hypothesis unfalsifiable. If some rationale can always be invoked in defense of a hypothesis, it is not testable against experience. It's claim to truth is a priori, hence, empty of content.

Secondly, this objection ignores the cultural and institutional nature of society. If it be objected that there is no such thing as society, let it be answered that "society" is defined by institutions of custom and law. If the claim is that all institutions must be removed for true liberalism, then the counter-objection is that a lawless aggregate of individuals results. That's called a jungle.

Laissez-faire is either unattainable, or else leads to the law of the jungle — the rule of the stronger aka social Darwinism.

The Case For Concerted Action
The Writings Of Joan Robinson
Ramanan