The burdens of knowledge

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Chapter 5 in Neoliberal Social Justice, 2021, pp 59-69 from Edward Elgar Publishing

Abstract: Rawls uses the notion of the burdens of judgement to explain the persistence of reasonable disagreement in civil society about moral doctrines to justify liberalism in the political sphere. Following neoclassical economic assumptions that presume economic calculation to be essentially a technical problem with a given answer, Rawls did not recognise similar sources of reasonable disagreement when it came to the pursuit of worthwhile productive enterprises in the economic sphere. I summarise these sources of economic disagreement as problems of calculation, discovery and subjectivity. I explain how a private-property market process is uniquely capable of ameliorating such problems and employ several examples from everyday public and private life to illustrate the difference between market and non-market decision-making.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
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