A Quote by Peter L. Berger
Let me say again that the relationship is asymmetrical: there's no democracy without a market economy, but you can have a market economy without democracy.
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The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.
So I think one can say on empirical grounds - not because of some philosophical principle - that you can't have democracy unless you have a market economy.
What is it about a work of art, even when it is bought and sold in the market, that makes us distinguish it from . . . pure commodities? A work of art is a gift, not a commodity. . . works of art exist simultaneously in two “economies”, a market economy and a gift economy. Only one of these is essential, however: a work of art can survive without the market, but where there is no gift, there is no art.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
The public trust is at the core of both a free market economy and a democracy.
I think Russians today have a distorted picture of capitalism, liberal democracy and market economy.
Having seen a non-market economy, I suddenly understood much better what I liked about a market economy.
A market economy is to economics what democracy is to government: a decent, if flawed, choice among many bad alternatives.
Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
The largest threat to freedom, democracy, the market economy and prosperity, is no longer socialism. It is, instead, the ambitious, arrogant, unscrupulous ideology of environmentalism.
The market economy of its own cannot destroy socialism. But to build socialism with success, it is necessary to develop a market economy in an adequate and correct way.
The economy is much bigger than the market. We will not be able to build a good economy - nor a good society - unless we look at the vast expanse beyond the market.
Globalization can be very unjust and unfair and unequal, but these are matters under our control. It?s not that we don?t need the market economy. We need it. But the market economy should not have priority or dominance over other institutions.
The strategic partnership between the European Union and the United States is rooted in our shared values of freedom, human rights, democracy and a belief in the market economy.
Neoliberalism is going to fail by being replaced. The system is entirely broken. Whenever you have a system that equates a market economy with a market society and claims that capitalism is democracy, you've not only got a massive lie being imposed on the people, but you've got the foundation for a form of authoritarianism and a much more intensive form of class warfare.
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