Julie A. Nelson Neoliberal economics, "free market" rhetoric, and the policy agents maximize utility or profit. Markets are assumed to be perprescriptions of the Washington Consensus are currently pressfectly competitive, with numerous buyers and sellers. Given these ing towards a radical restructuring of the global economy. Many and a number of other assumptions, the First Fundamental questions have been raised about these policies by people conTheorem of Welfare Economics "shows" that a competitive market cerned with some of the negative effects on human well-being equilibrium outcome cannot be improved upon. With the perfectly that have been observed. Decreases in health and employment competitive economy set up as an ideal, then, government "interrelated to the imposition of Structural Adjustment Programs ference" in economies tends to be condemned as leading to ineffi(SAPs) on poor countries, global instability resulting from preciency. Graduate students in economics study the core model in cipitous international capital flows, and the possibility of a "race great mathematical detail. Undergraduates are presented with simto the bottom" in national labor and pler versions. They learn about "gains environmental standards have many from trade" from an uncomplicated Partly, the [feminist] critiques grew observers very worried. Feminist econparable about how
The Good Society – Penn State University Press
Published: Dec 6, 2005
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