The Dream to Tame the Leviathan: Authoritarian Power and the Market

Bruna Ingrao
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Bruna Ingrao: University of Rome La Sapienza

Chapter 2 in Power in Economic Thought, 2018, pp 17-49 from Palgrave Macmillan

Abstract: Abstract The idea of competitive markets was built on the dream to tame the Leviathan, erasing the influence of authoritarian power. This chapter explores the opposition between the State and the market in the history of economics, from Smith to Walras, from Schumpeter to Hayek. It deals with power in authoritarian States, looking both at totalitarianism in the twentieth century and at the return of authoritarianism in the contemporary world. In hybrid authoritarian States, the political dynamics calls into question the relations between those in power and the market space; markets work at the junction of private interests and public power. A broad area of research focuses on the ways the state and the market intermingle in different institutional models and paths of development.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-319-94039-7_2

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DOI: 10.1007/978-3-319-94039-7_2

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