Toward a Hayekian Theory of Commodification and Systemic Contradiction

Citizens, Consumers, and the Media

Bibliographic Data

ID10437463
AuthorsGus Dizerega (corresponding author)
Year2004
Volume66
Issue3
Pages445-468
Publication date2004-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Review of Politics (JOURNAL)
Journal identifiersISSN: 0034-6705 • E-ISSN: 1748-6858
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0034670500038869
OpenAlexW2084791937
LanguageEN
References cited19

F. A. Hayek's theory of spontaneous order applies to more than the market. One implication is that different systems of rules generating different spontaneous orders are biased in favor of different values. Markets serve the values of consumers; democracies serve the values of citizens. No spontaneous order perfectly reflects human values because they simplify the context of choice in favor of core systemic values. This insight enables us to distinguish between systemic and individual resources, and tensions between them. It also enables us to develop models of systemic conflict. Of particular interest are interactions between democracies and markets whose rules reflect different values but influence one another. The increasing commodification of the press shifts this institution from reflecting both democratic and economic values more and more to purely economic values, undermining its capacity to serve citizens. Examples illustrating this argument are explored

Argument (complex analysis · Commodification · Context (archaeology · Contradiction · Democracy · Economics · Epistemology · Institution · Law and economics · Market economy · Order (exchange · Political science · Politics · Positive economics · Social science · Sociology · Spontaneous order · Economic Theory and Institutions · Law · Philosophy · Political Economy and Marxism · Weber, Simmel, Sociological Theory

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