1. Failure and Critique of the Market.
- Author
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Kessler, Oliver
- Subjects
- *
GLOBAL Financial Crisis, 2008-2009 , *MARKET failure , *NEOLIBERALISM - Abstract
This article conceptualizes the market as a concept to ask 'how is neoliberalism able to go on?' A question that was raised in the aftermath of the 2008 Great Financial Crisis and the persistence of market-based policies. It argues that one of the reasons is to be found in the performance of failure. Recent contributions have started to point to the cultural and ideological preconditions of failures. The following discussion seeks to contribute to this debate by identifying three distinct notions of failure: as empirical fact, as communication and as institutional fact. These three notions give rise to technological, reflexive and critical debates respectively. This article argues that market-based problematizations of failure translate communicative and institutional failures into empirical ones with the consequence that reflective and critical debates morph into technocratic ones. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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