Lindblom poses that the market entraps government because it fears the fall out of poor market function and the unemployment that it would create. The officials understand that the economy, at a basic level, is something that everyone can understand and that when it is doing poorly, they are in danger of losing their “privileged position”. According to Lindblom,
“the exercise of that authority is curbed and shaped by the concern of government officials for its possible adverse effects of business, since adverse effects can cause unemployment and other consequences that government officials are unwilling to accept. In other areas of public policy, the authority of government is again curbed and shaped by concern for possible adverse effects of business” (Lindblom page 178).
As a result, business enjoys a certain “privileged position” and is widely accepted by the American public. However, there appears to be a shift as people begin to see that busin...
... middle of paper ...
...here people abided by acceptable and fair practices in the market, these actions and oversight would not be necessary to ensure that we continue to live in a true democracy with political equality. Milton Friedman would have his pure market economy devoid of any government intervention while Lindblom’s concerns that the policy process will be endlessly trapped by arguments about the market would be eased. Democracy would truly mean political equality and allow all those that wished to participate to do so with all the information they require.
Friedman, Milton. Capitalism and freedom. Chicago: University of Chicago Press, 1962.
Lanchester, John. I.O.U.: why everyone owes everyone and no one can pay. New York: Simon & Schuster, 2010.
Lindblom, Charles Edward. Politics and markets: the world's political economic systems. New York: Basic Books, 1977.
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