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Market management of the essential economy: an essay
Authors:Walter C. Wagner  
Affiliation:1. University College Dublin, Quinn School of Business, Belfield, Dublin 4, Ireland;2. Department of Marketing and Strategy, Stockholm School of Economics, PO Box 6501, S-11383 Stockholm, Sweden;1. Olin Business School, Washington University in St. Louis, United States;2. CAFR, China;3. Robert H. Smith School of Business, University of Maryland, United States;2. TB Modelling Group, TB Centre, Centre for Mathematical Modelling, Faculty of Epidemiology and Population Health, London School of Hygiene and Tropical Medicine, London, UK;3. New Jersey Medical School – Rutgers, the State University of New Jersey, Newark, New Jersey, USA;4. Respiratory Epidemiology Clinical Research Unit, McGill University, Montreal, Quebec, Canada;5. New York City Department of Health and Mental Hygiene, Bureau of Tuberculosis Control, New York, New York, USA;6. Department of Epidemiology, Johns Hopkins Bloomberg School of Public Health, Baltimore, Maryland, USA;7. Maricopa County Department of Public Health, Clinical Services, Phoenix, Arizona, USA;1. Department of Obstetrics and Gynecology, Skåne University Hospital, Lund, Sweden;2. Lund University, Faculty of Medicine, Clinical Sciences, Obstetrics and Gynecology, Lund, Sweden;3. Department of Clinical Science and Education, Södersjukhuset, Karolinska Institutet, Stockholm, Sweden;4. Division of Obstetrics and Gynecology at Södersjukhuset, Stockholm, Sweden
Abstract:This essay presents a framework for thinking about public economic policy. The argument is that the prevailing theory of competitive markets serves a useful public purpose but creates problems when made into an ideology. The core theory and philosophy suffers from oversights and illusions. Fundamentalist thinking found in it can be dangerous for the long run well-being of humanity. These insights lead to the conclusion that the fundamental task of an economics for public policy should be to develop a theory of workable markets.
Keywords:
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