Friday, January 23, 2015

Bill Mitchell — Neo-liberalism has compromised the concept of a citizen

This is the key failing of neoliberal capitalism, as well as any social, political and economic system based on individualism. The assumption of homo economicus as rational utility maximizer by nature is wrong. This assumption underlies the so-called "laws of economics" that are supposedly similar to the laws of (19th century) physics based on atomism. Human being are not like atoms and don't behave like atoms.

The more correct conception is homo socialis, in the Greek of Aristotle, zoon politikon, that was developed millennia ago. For Aristotle the end or goal (telos) of humans is living a good life in a good society. Then question becomes what is a good life and what is a good society, and how do they relate to each other to result in a full human life.

The rule of law and rights are fundamental to this, along with the recognition of universality along with individuality, that is, all people share the same nature as human persons even through each is unique as an individual.

Bill Mitchell – billy blog
Neo-liberalism has compromised the concept of a citizen
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the Charles Darwin University, Northern Territory, Australia

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