In this paper, we draw attention to the epistemological assumptions of market liberalism and standpoint theory and argue that they have more in common than previously thought. We show that both traditions draw on a similar epistemological bedrock, specifically relating to the fragmentation of knowledge in society and the fact that some of this knowledge cannot easily be shared between agents. We go on to investigate how market liberals and standpoint theorists argue with recourse to these similar foundations, and sometimes (...) diverge, primarily because of normative pre-commitments. One conclusion we draw from this is that these similarities suggest that market liberals ought to, by their own epistemological lights, be more attentive towards various problems raised by feminist standpoint theorists, and feminist standpoint theorists ought to be more open to various claims made by market liberals. (shrink)

Thomas Piketty’s Capital and Ideology offers a powerful critique of ideological justifications for inequality in capitalist societies. Does this mean we should reject capitalist institutions altogether? This paper defends some aspects of capitalism by explaining the epistemic function of market economies and their ability to harness capital to meet the needs of the relatively disadvantaged. We support this classical liberal position with reference to empirical research on historical trends in inequality that challenges some of Piketty’s interpretations of the data. Then (...) we discuss the implications of this position in terms of limits on the efficacy of participatory governance within firms and the capacity of the state to levy systematic taxes on wealth. (shrink)

Hayek’s The Road to Serfdom has been interpreted as a general warning against state intervention in the economy.1 We review this argument in conjunction with Hayek’s later work and discern an institutional thesis about which forms of state intervention and economic institutions could threaten personal and political freedom. Economic institutions pose a threat if they allow for coercive interventions, as described by Hayek in The Constitution of Liberty: by giving someone the power to force others to serve one’s will by (...) threatening to inflict harm, in the absence of general rules of conduct. According to the logic of the argument, welfare-state provisions are not coercive insofar as they do not allow the identification and discriminatory treatment of individuals. By contrast, we claim that a structure of coercion is likely to emerge from the command-and-control nature of protectionist institutions and immigration restrictions currently advocated by the radical right. (shrink)

In this paper, we draw attention to the epistemological assumptions of market liberalism and standpoint theory and argue that they have more in common than previously thought. We show that both traditions draw on a similar epistemological bedrock, specifically relating to the fragmentation of knowledge in society and the fact that some of this knowledge cannot easily be shared between agents. We go on to investigate how market liberals and standpoint theorists argue with recourse to these similar foundations, and sometimes (...) diverge, primarily because of normative pre-commitments. One conclusion we draw from this is that these similarities suggest that market liberals ought to, by their own epistemological lights, be more attentive towards various problems raised by feminist standpoint theorists, and feminist standpoint theorists ought to be more open to various claims made by market liberals. (shrink)