David F. Ruccio — Utopia—without classes

Good analysis of utopian versus utopianism. Short and important.

The difference is that between ideal and real. 

If the core assumptions are unrealistic and infeasible, then the consequent conceptual model will be "utopian" in the pejorative sense, and the project unachievable — "pie in the sky." If there is a disconnect between the ideal and the real, then it's utopianism.

If the assumptions are realistic and feasible, then the conceptual model will be "utopian" in the positive sense, and the project is achievable if implemented correctly.

If there is a disconnect between the ideal and the real, then it's utopianism.

Professor Ruccio explores how neoclassical economics and Marxian economics stack up in this regard.

Occasional Links & Commentary
Utopia—without classes
David F. Ruccio | Professor of Economics, University of Notre Dame

Nick Johnson — Neither socialism nor market fundamentalism

Geoffrey Hodgson quote from Economics and Utopia. Hodgson is Research Professor of Business Studies in the University of Hertfordshire, and also the editor-in-chief of the Journal of Institutional Economics. He is a prominent institutionalist.

Neither the individual nor the state can be omniscient. What is remarkable about both socialism (in a traditional sense) and market individualism is that they both presume a high degree of capability and enlightenment on the part of one or the other.

As I have been saying, utopian systems need to be populated with agents whose collective level of consciousness is advanced and reflected in not only the quality of the institutions they create but also the operation of these institutions.

As society cannot get ahead of its level of collective consciousness, regardless of its aspirations. Visions must be actualized and actualization depends in the self-actualiztion of the agents. Otherwise utopian thinking is just utopianism.

The key fundamental of social development in the direction of ideal society is addressing the level of collective consciousness through culture and institutions, eduction in particular. The higher the level of collective consciousness the more functional the society and the lower the level, the more dysfunctional.

The Political Economy of Development
Neither socialism nor market fundamentalism
Nick Johnson

Caroline Winter — A Mormon Tycoon Wants to Build Joseph Smith’s Mega-Utopia in Vermont

Utopia? Not in my backyard.

Bloomberg Businessweek
A Mormon Tycoon Wants to Build Joseph Smith’s Mega-Utopia in Vermont

Caroline Winter

ht Yves Smith at Naked Capitalism

David F. Ruccio — The practical necessity of utopian thinking

Julia O’Connell Davidson and Neil Howard have just announced a new series of articles on utopia.

Utopias are like formal models in that both are idealizations that can be used to gain insights. The issues arise when they are confused with reality or their use ignores practicality.

Compare also stylized fact, heuristic, creativity, and possibility thinking.

In critical thinking, all relevant information and suitable tools are brought to bear on the issues. If critical thinking is brought in too early, opportunities are likely to be overlooked.

Utopian thinking properly employed is about vision and possibility. I should be the starting point of doing economics.

For example, in economics an policy, actual full employment is regarded as utopian, so its consideration is off the table. Economic sociologist Adolf Lowe argued that a properly conceived economics is not to fall into the trap of markets dictate but that human beings can choose (within limits) the kind of society they wish to live in and construct it. Mathew Forstater has an interesting paper about the thinking of Abba Lerner and Adolf Lowe about constructing a "utopian" full employment society with institutions, resources, and tools that are presently available.*

Occasional Links & Commentary
The practical necessity of utopian thinking
David F. Ruccio | Professor of Economics, University of Notre Dame

* Mathew Forstater, Toward a New Instrumental Macroeconomics: Abba Lerner and Adolph Lowe on Economic Method, Theory, History and Policy

Chris Dillow — The Utopia paradox

The issue about greater prosperity and less happiness is easily explained by perennial wisdom and Abraham Maslow's hierarchy of needs. Happiness is not exclusively a function of satisfaction of material needs and wants.

As Aristotle observed in Nichomachean Ethics, happiness (εὐδαιμονία, eudaimonia) is a byproduct of excellence (ἀρετή, arete) in life, both as a human being (person) and an individual.

The basis of liberalism is that freedom is essential because it is necessary for self-actualization as unfolding of full potential. Thus "freedom for" requires "freedom from" and "freedom to." This is the basis for rights and responsibilities.

The foundation of liberalism with respect to individuals is social freedom in a community which determines itself based on rule of law as governance of the people, by the people and for the people. This is the basis of popular sovereignty.

According to the sages, the ultimate freedom is freedom from desire, which is only gained by realizing one's true nature as a human being, which is completely fulfilling in itself and requires nothing else. While the ultimate state of freedom is gained suddenly, it matures gradually in increasing inner fulfillment and independence. This is the foundation of personal spirituality.

Stumbling and Mumbling
The Utopia paradox
Chris Dillow | Investors Chronicle

See also

Digressions&Impressions
Le Guin as Teacher of Socratic Political Philosophy
Eric Schliesser | Professor of Political Science, University of Amsterdam’s (UvA) Faculty of Social and Behavioural Sciences

Eric Schliesser — On Plato's System of Natural Liberty (and Adam Smith's True Religion)

Weekend reading.

The issue in The Republic is living a good life in a good society.

Digressions&Impressions
On Plato's System of Natural Liberty (and Adam Smith's True Religion)
Eric Schliesser | Professor of Political Science, University of Amsterdam’s (UvA) Faculty of Social and Behavioural Sciences

Branko Milanovic — 99 percent Utopia and money

My good friend and co-author Leif Wenar, in his first tweet, asked this question: “Friends, a utopia query. Keep human nature fixed. Imagine the best possible world. Does money exist?” I could not sleep last night so I decided to give it a thought.…

Presently scarce resources are allocated by markets based on money. It's a distribution issue. Is a superior distributional system possible? Marx, of course, thought so.

Global Inequality
99 percent Utopia and money
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace