Limits of the Market: Notes on Political Economy & Externalities

I try and take a fresh perspective on the Limits of the Market primarily through three thinkers: Michael Sandel (What Money Can t Buy: The Moral Limits of the Market), Paul de Grauwe (The Limits of Markets), and Keith Payne (The Broken Ladder: How Inequality Affects the Way We Think, Live, and Die). I try to synthesise these approaches and draw out one concept - externalities - that can help us think about the relationship between the individual and the collective in new ways. Then & Now is FAN-FUNDED! Support me on Patreon and pledge as little as $1 per video: http://patreon.com/user?u=3517018 Or send me a one-off tip of any amount and help me make more videos: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=JJ76W4CZ2A8J2 Buy on Amazon through this link to support the channel: https://amzn.to/2ykJe6L Follow me on: Facebook: http://fb.me/thethenandnow Instagram: https://www.instagram.com/thethenandnow/ Twitter: https://twitter.com/lewlewwaller Sources: Michael Sandel, What Money Can’t Buy: The Moral Limits of the Market Keith Payne, The Broken Ladder Paul de Grauwe, The Limits of the Markets F.A. Hayek, The Use of Knowledge in Society David Harvey, A Brief History of Neoliberalism Terry Eagleton, Why Marx Was Right Richard Wilkinson, Kate Pickett, The Spirit Level James E. Mahon (2014) Economic Freedom and the Size of Government, Challenge, 57:1, 67-81, DOI: 10.2753/0577-5132570105 J. C. Ott, Government and Happiness in 130 Nations: Good Governance Fosters Higher Level and More Equality of Happiness Claus Thomasberger (2012) The Belief in Economic Determinism, Neoliberalism, and the Significance of Polanyi s Contribution in the Twenty-First Century, International Journal of Political Economy, 41:4, 16-33, DOI: 10.2753/IJP0891-1916410402 Credits: Stock footage provided by Videvo, downloaded from https://www.videvo.net Michael Sandel Image Fronteiras do Pensamento [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)] (https://upload.wikimedia.org/wikipedia/commons/4/4e/Michael_Sandel_no_Fronteiras_do_Pensamento_S%C3%A3o_Paulo_2014_%2814186914648%29.jpg)