Introduction to Liberating Economics from Ideologies and Dystopia

George Kararach ()

A chapter in Liberating Economics From Ideologies and Dystopia, 2025, pp 2-17 from Edward Elgar Publishing

Abstract: Economic policies and their outcomes are driven by powerful interest groups and institutional differences, contrary to neoliberal claims of market neutrality. In essence, the neutrality of the market mechanism preached by neoliberal ideologues is a smokescreen to cover the dystopia wreaked upon society. Neoliberal ideologies, while elevating the market and contributing to the reduction of the role of governments and establishing conservative agendas, also weakened welfare state programmes and increased child poverty. Heterodox economists emphasise the importance of institutions, social norms and leadership in shaping socio-economic outcomes. Interest groups are also crucial, but they are not as determinative. Ideology can be critical; yet its influence is neither pervasive nor continuous as this may face pushbacks from alternative views about the economy and society.

Keywords: Economic policy; Interest groups; Neoliberalism; Heterodoxy; Ideology; Market mechanism (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035316175
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