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Actually Existing Markets: The Case of Neoliberal Australia

TL;DR: In this paper, the eligibility rules for access and ongoing participation, interaction of participants, role of intermediaries and government, the extent of competition, complex regulatory regimes shaping and controlling these markets, and key market outcomes.
Abstract: Neoliberalism has transformed markets supplying public goods. Analysis of five real-world Australian markets reveals the eligibility rules for access and ongoing participation, interaction of participants, the role of intermediaries and government, the extent of competition, complex regulatory regimes shaping and controlling these markets, and key market outcomes. Contrary to neoliberalism’s free market rhetoric and the view promulgated by mainstream economics, there are a spectrum of market configurations and governance regimes, participation is highly dependent on technology access and skills, market outcomes are inconsistent with policy rhetoric, market interrelationships pose adverse cumulative impacts, and government is strongly interventionist through multiple roles.
Citations
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TL;DR: The authors argue that productivist farming approaches that are favored by both industry and government are proving incapable of bringing about long-term production outcomes that will guarantee national food security, and argue that expansion in food production in an era of climate change will continue to compromise the environment.

197 citations

Journal ArticleDOI
TL;DR: The authors argue that uncritical application of the lens of neoliberalism closes off opportunities for more rigorous analysis of actually existing socioeconomic change, and instead of stitching together a story about variegated neoliberalism, they find an alternative narrative based around the notion of a developmental project more compelling.
Abstract: This article argues that the uncritical application of the lens of neoliberalism closes off opportunities for more rigorous analysis of actually existing socio-economic change We ask whether Australia’s developmental trajectory over the last three decades can be described as neoliberalization and whether the outcome is a variety of neoliberalism Instead of stitching together a story about variegated neoliberalism, we find an alternative narrative based around the notion of a developmental project more compelling We document the spatial and political realities that have inhibited the roll-out of neoliberal ideas and practices in the Australian context We think that instead of expanding the varieties of variegated neoliberalism to accommodate all manner of events and processes in all sorts of places, our task should be to recognize those instances where social, political, cultural or economic changes settle capitalism’s contradictions in ways that diverge from neoliberal frameworks and expectations Our

78 citations


Cites background from "Actually Existing Markets: The Case..."

  • ...Analyses of Australian political economy that employ this approach include Chester (2008, 2010, 2012)....

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  • ...Some commentators have positioned neoliberalism as the pervasive force within the Australian economy of recent times (Beeson and Firth, 1998; Cahill, 2007, 2010; Chester, 2008, 2010), as tantamount to a neo-liberal governmental regime....

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DOI
01 Jan 2019

17 citations


Cites background from "Actually Existing Markets: The Case..."

  • ...These institutional (or structural) forms comprise the mode of régulation and each is the codification of capitalism’s fundamental social relations through laws, rules, regulations, compromises, negotiated outcomes, common value systems or representations (Chester, 2010; Boyer, 2002; Boyer, 1990)....

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Journal ArticleDOI
TL;DR: In this article, the concept of territoriality as spatially embedded power is applied to organization studies, and a field of domination composed of three organizational actors, one of them performing the function of drawing boundaries and controlling access is modeled.
Abstract: The neoclassical approach toward explaining domination in the market is confronted with the approach of critical theory. Special attention is paid to domination by virtue of a constellation of interests in the market. This requires a particular technique for imposing will, namely conditional access to the market field. Interactions are modeled taking a field of domination composed of three organizational actors, one of them performing the function of drawing boundaries and controlling access. The concept of territoriality as spatially embedded power is applied to organization studies. Only one actor in the field has the ability to maximize its satisfaction, the two others minimize missed opportunities.

15 citations


Additional excerpts

  • ...Participants may be required to make regular payment (e.g., annual fees), be limited to a fixed term by contract, be subject to regular re-assessment of eligibility, or make payment for goods and services by supplier-determined time and method’ (Chester 2010: 15)....

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Journal ArticleDOI
TL;DR: In this paper, the authors respond to Peck's call for a heterodox economic analysis of markets that is sensitive to their sociality and spatiality with Polanyi's work as a starting point.
Abstract: This article responds to Peck’s call for a heterodox economic analysis of markets that is sensitive to their sociality and spatiality with Polanyi’s work as a starting point. It is argued that whil...

14 citations


Cites background from "Actually Existing Markets: The Case..."

  • ...…can certainly contribute to the production of economic phenomena, capitalist social relations and their associated institutional matrix provide crucial constitutive elements of ‘actually existing markets’ (Chester, 2010), and thus deserve analytical priority in efforts to apprehend their dynamics....

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References
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Journal Article
TL;DR: In this paper, the authors highlight the role of business in national economies and show that there is more than one path to economic success, and explain national differences in social and economic policy.
Abstract: What are the most important differences among national economies? Is globalization forcing nations to converge on an Anglo-American model? What explains national differences in social and economic policy? This pathbreaking work outlines a new approach to these questions. It highlights the role of business in national economies and shows that there is more than one path to economic success.

5,778 citations

Posted Content
TL;DR: In this article, the authors consider why institutional forms of modern capitalist economies differ internationally, and propose a typology of capitalism based on the theory of institutional complementarity, which is the outcome of socio-political compromises.
Abstract: This book considers why institutional forms of modern capitalist economies differ internationally, and proposes a typology of capitalism based on the theory of institutional complementarity Different economic models are not simply characterized by different institutional forms, but also by particular patterns of interaction between complementary institutions which are the core characteristics of these models Institutions are not just simply devices which would be chosen by 'social engineers' in order to perform a function as efficiently as possible; they are the outcome of a political economy process Therefore, institutional change should be envisaged not as a move towards a hypothetical 'one best way', but as a result of socio-political compromises Based on a theory of institutions and comparative capitalism, the book proposes an analysis of the diversity of modern economies - from America to Korea - and identifies five different models: the market-based Anglo-Saxon model; Asian capitalism; the Continental European model; the social democratic economies; and the Mediterranean model Each of these types of capitalism is characterized by specific institutional complementarities The question of the stability of the Continental European model of capitalism has been open since the beginning of the 1990s: inferior macroeconomic performance compared to Anglo-Saxon economies, alleged unsustainability of its welfare systems, too rigid markets, etc The book examines the institutional transformations that have taken place within Continental European economies and analyses the political project behind the attempts at transforming the Continental model It argues that Continental European economies will most likely stay very different from the market-based economies, and caat political strategies promoting institutional change aiming at convergence with the Anglo-Saxon model are bound to meet considerable opposition

1,611 citations


"Actually Existing Markets: The Case..." refers background in this paper

  • ...Within the observed typologies of capitalism, Australia is classified as a liberal marketbased economy, falling in a highly homogenous Anglophone cluster of the United States, UK, Canada and New Zealand (Amable 2003; Crouch 2005; Hall and Soskice 2001) given a high reliance on market mechanisms for coordination of the economy....

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  • ...…of capitalism, Australia is classified as a liberal marketbased economy, falling in a highly homogenous Anglophone cluster of the United States, UK, Canada and New Zealand (Amable 2003; Crouch 2005; Hall and Soskice 2001) given a high reliance on market mechanisms for coordination of the economy....

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Book
01 Jan 2005
TL;DR: In this paper, a Reformed Neo-institutionalist Research Programme (RNRP) is proposed for the analysis of institutional governance and innovation and a Strategy for the Analysis of Institutional Governance and innovation.
Abstract: 1. Neo-Institutional Analysis and Comparative Capitalism 2. Typologies of Capitalism 3. Wahlverwandschaft, Complementarity, and the Theoretical Utlitity of Institutional Untidiness 4. Innovation and Path Dependence 5. A Strategy for the Analysis of Institutional Governance and innovation 6. Recombinant Governance Mechanisms: Cases 7. Conclusions: A Reformed Neo-institutionalist Research Programme

691 citations

Journal ArticleDOI
TL;DR: The United States is moving closer to enacting a policy to reduce domestic emissions of greenhouse gases, and a key element in any plan to reduce emissions will be to place a price on greenhouse gas emissions as discussed by the authors.
Abstract: The United States is moving closer to enacting a policy to reduce domestic emissions of greenhouse gases. A key element in any plan to reduce emissions will be to place a price on greenhouse gas emissions. This paper discusses the different approaches that can be taken to price emissions and assesses their strengths and weaknesses.

149 citations


"Actually Existing Markets: The Case..." refers background in this paper

  • ...150 Metcalf, G. (2009), ‘Market-based policy options to control U....

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