Socialism after Hayek
A Post Keynesian Contribution to Burczak's Theory of Social Justice
Bibliographic Data
| ID | 9256795 |
|---|---|
| Authors | Fadhel Kaboub (Denison University, corresponding author) |
| Year | 2009 |
| Volume | 67 |
| Issue | 3 |
| Pages | 375-381 |
| Publication date | 2009-09-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Social Economy (JOURNAL) |
| Journal identifiers | ISSN: 0034-6764 • E-ISSN: 1470-1162 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00346760802014821 |
| OpenAlex | W2163654225 |
| Language | EN |
| References cited | 6 |
The paper presents a brief overview of the basic premise of the Burczak's Socialism after Hayek, and shows that Burczak's “applied epistemological postmodernism” presents a unique unifying ground for heterodox economics, breaking down traditional barriers between right and left. This new approach allows us to revisit the Marx-Keynes-Hayek debates in a more constructive way for a unified theory of social justice. However, we argue that Burczak's system does not automatically guarantee full employment, so it cannot be considered an ideal theory of social justice. A Post Keynesian contribution is presented in the form of the Employer of Last Resort (ELR) program which we argue is compatible and complementary to Burczak's theory of social justice. Finally, we argue that an adequate system design of the magnitude proposed here must be infomed by the principles of institutional adjustment as outlined by J. Fagg Foster
Constructive · Economic Justice · Economics · Epistemology · Ideal (ethics) · Keynesian economics · Neoclassical economics · Political science · Positive economics · Post-Keynesian economics · Postmodernism · Premise · Socialism · Sociology · Economic Theory and Institutions · Economic Theory and Policy · Law · Philosophy · Political Economy and Marxism
| Highly cited | No |
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