ABSTRACT

Neo-liberalism advances the ideology of the market. Markets, it is argued, are the most effi cient way of matching supply and demand, and of managing decentralized collective choices in such a way that aggregate demand is met, while moving choices as close as possible to those who actually implement policy, those who actually know what is going on. Intervention in the market can only introduce ineffi ciencies, and therefore, the role of the government, or of any arbitrary agency that can intervene in the market, should be reduced to an absolute minimum, to prevent “distortion” of the market. Left to its own devices, the “invisible hand” of market theory will ensure that the greatest good of the greatest number of people is achieved.