Realistic Idealism and The Project of Political Economy

Mark Pennington

Economic Affairs, 2015, vol. 35, issue 3, 366-379

Abstract: This paper explores the constraints that should inform understandings of which political economic institutions are both economically and political feasible and ethically attractive. Focusing on cognitive constraints and motivational constraints, it suggests that the classical liberal ideal of a society based largely on voluntary exchanges within a minimalist conception of justice comes closest to matching the terms of a ‘realistic idealism’.

Date: 2015
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