The Illusion of Free Markets is a beautifully written and well-researched book that addresses two subjects of great contemporary significance: the conceptualization of market exchange as "free" and "natural," and the expansion of the American penal system. The book argues that the way we think about markets has shaped-indeed, distorted-the way we think about criminal justice, and it is time to rethink both. Harcourt's claims will spur lively and much needed debate. -- Alice Ristroph, Seton Hall University Bernard Harcourt has never had an uninteresting thought, or made an argument that does not provoke or engage or delight or enlighten-or do all of those things simultaneously. -- Best-selling author Malcolm Gladwell Bernard Harcourt has two urgent lessons to teach. The first is that there are no "free" markets, only markets regulated in different ways and by different means. The second is that libertarian devotion to free markets tends to march in step with authoritarian devotion to coercion, the punitive carceral state. This brilliant book, beautifully written and illustrated with a wealth of fascinating detail -- is a subtle and penetrating study of the origins and development of some of our principal modern illusions. -- Robert W. Gordon, Yale University Bernard Harcourt's magisterial book makes a strong and persuasive case for the tight connection of the invisible hand of neoliberal 'free' markets and the iron fist of carceral policies. His erudite blend of history, political thought and economic theory lays bare the dark side of neoliberal penality. We ignore his powerful democratic voice and view at our own peril! -- Cornel West, author of Democracy Matters and Race Matters In this intrepid book, Harcourt excavates the historical genealogy of the twin myths of the 'free market' and the 'diligent police' to illumine the current American predicament of steep social inequality and gargantuan prisons. From Quesnay to Bentham to Ronald Coase and Gary Becker, he reveals that the current idolatry of the market finds its roots in successive declinations of the eighteenth-century notion of 'natural order,' which fosters both minimal government in economic matters and maximal government in law and order. By retracing how market naturalism and penal despotism come to form the two sides of the same conception of the state, The Illusions of Free Markets offers a bracing critique of neoliberal reason that will stimulate wide debate and heated controversy. -- Loic Wacquant, author of Punishing the Poor: The Neoliberal Government of Social Insecurity An ambitious and sophisticated exploration of the ideological roots of what might well be the central paradox of modern American culture -- that we insist that we are the leaders of the 'free world' while incarcerating more people per capita than any other country on the planet. -- David Cole, Georgetown University The Illusion of Free Markets explores the concept of natural order that underlies so much of free market economic thought-particularly the Chicago School. Bernard Harcourt's insights into how our economic rhetoric influences the United States' acceptance of incarceration are particularly rich. This book is a must read for anyone who wants to think seriously about those two natural antagonists: markets and democracy. -- Lester Thurow, author of Head to Head, The Future of Capitalism, and The Zero-Sum Society
Bernard E. Harcourt is Isidor and Seville Sulzbacher Professor of Law at Columbia University and Directeur d’études at the École des hautes études en sciences sociales, Paris.
The Illusion of Free Markets is a beautifully written and
well-researched book that addresses two subjects of great
contemporary significance: the conceptualization of market exchange
as "free" and "natural," and the expansion of the American penal
system. The book argues that the way we think about markets has
shaped—indeed, distorted—the way we think about criminal justice,
and it is time to rethink both. Harcourt's claims will spur lively
and much needed debate.
*Alice Ristroph, Seton Hall University*
Bernard Harcourt has never had an uninteresting thought, or made an
argument that does not provoke or engage or delight or enlighten—or
do all of those things simultaneously.
*Best-selling author Malcolm Gladwell*
Bernard Harcourt has two urgent lessons to teach. The first is that
there are no "free" markets, only markets regulated in different
ways and by different means. The second is that libertarian
devotion to free markets tends to march in step with authoritarian
devotion to coercion, the punitive carceral state. This brilliant
book, beautifully written and illustrated with a wealth of
fascinating detail -- is a subtle and penetrating study of the
origins and development of some of our principal modern
illusions.
*Robert W. Gordon, Yale University*
Bernard Harcourt's magisterial book makes a strong and persuasive
case for the tight connection of the invisible hand of neoliberal
'free' markets and the iron fist of carceral policies. His erudite
blend of history, political thought and economic theory lays bare
the dark side of neoliberal penality. We ignore his powerful
democratic voice and view at our own peril!
*Cornel West, author of and *
In this intrepid book, Harcourt excavates the historical genealogy
of the twin myths of the 'free market' and the 'diligent police' to
illumine the current American predicament of steep social
inequality and gargantuan prisons. From Quesnay to Bentham to
Ronald Coase and Gary Becker, he reveals that the current idolatry
of the market finds its roots in successive declinations of the
eighteenth-century notion of 'natural order,' which fosters both
minimal government in economic matters and maximal government in
law and order. By retracing how market naturalism and penal
despotism come to form the two sides of the same conception of the
state, The Illusions of Free Markets offers a bracing critique of
neoliberal reason that will stimulate wide debate and heated
controversy.
*Loïc Wacquant, author of Punishing the Poor: The Neoliberal
Government of Social Insecurity*
An ambitious and sophisticated exploration of the ideological roots
of what might well be the central paradox of modern American
culture -- that we insist that we are the leaders of the 'free
world' while incarcerating more people per capita than any other
country on the planet.
*David Cole, Georgetown University*
The Illusion of Free Markets explores the concept of natural order
that underlies so much of free market economic thought—particularly
the Chicago School. Bernard Harcourt's insights into how our
economic rhetoric influences the United States' acceptance of
incarceration are particularly rich. This book is a must read for
anyone who wants to think seriously about those two natural
antagonists: markets and democracy.
*Lester Thurow, author of , , and *
Not only is the "free" market of laissez-faire doctrine not free,
it underpins the extravagant unfreedom of our metastasized penal
system, argues this provocative intellectual history...The author
mounts an incisive attack on the association of markets with
freedom and government with repression...The result is a
stimulating challenge to conventional wisdom.
*Publishers Weekly*
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