Knowledge at work
Some neoliberal anachronisms
Bibliographic Data
| ID | 9256916 |
|---|---|
| Authors | G M Hodgson (0000-0002-5823-3996, University of Hertfordshire, corresponding author) |
| Year | 2005 |
| Volume | 63 |
| Issue | 4 |
| Pages | 547-565 |
| Publication date | 2005-12-01 |
| Peer Reviewed | Yes |
| 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 | 10.1080/00346760500364403 |
| OpenAlex | W2150985693 |
| Language | EN |
| Citations received | 4 |
| References cited | 35 |
With a predilection for market solutions, neoliberalism upholds that the individual is generally the best judge of his or her interests. Yet markets are never universally applied as a mechanism of allocation and there are reasons, in principle, why capitalism will always have “missing markets.” Concentrating on the application and appropriateness of neoliberal theory to the workplace, this article argues that firms are not markets, despite some tendencies in modern theory to conflate the two. The employment contract is a key characteristic of modern firms, but neoliberal theory is often silent on the distinction between an employment contract and a contract for services, and largely ignores the asymmetrical rights of authority within contracts of employment. Furthermore, the social nature of knowledge represents a challenge to neoliberal theory and policy, because it sometimes makes it more difficult to define individual property rights. Accordingly, with the growth of the knowledge economy, neoliberalism to some extent is an anachronism
Anachronism · Capitalism · Conflation · Economic system · Economics · Epistemology · Law and economics · Market economy · Microeconomics · Neoclassical economics · Neoliberalism (international relations) · Political economy · Political science · Politics · Property (philosophy) · Property rights · Sociology · Work (physics) · Economic Theory and Institutions · Housing, Finance, and Neoliberalism · Law · Political Economy and Marxism
Beyond Contract
Legal foundations of capitalism
On the economic theory of socialism
Economics and Institutions
Capitalism and Freedom
The Problem of Externality
A Formal Theory of the Employment Relationship
The Dynamic Capabilities of Firms
Economic Welfare and the Allocation of Resources for Invention
The Lighthouse in Economics
In the age of the smart machine
Individualism and Economic Order
Capitalism, Socialism and Democracy
Do firms plan
Political Economy and Soviet Socialism
The Simple Economics of Basic Scientific Research
The Nature of the Firm
Property and Contract in Economics
The Social Problem
Authority in the firm (and the attempt to theorize it away)
The Division of Labour in Society
The Worker and the Law
The Evolution of the Socialist Vocabulary
Organizations and Markets
Organizational Learning
The Beginnings of Ownership
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,21 |
| Citation span | 2007 - 2016 (10) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 4 |