In discussing the applicability of neoclassical economic thinking to the university, Derek Bok points out that in the university — and, by implication, elsewhere — “the incentives of commercial competition do not always produce a beneficial outcome; they merely yield what the market wants” (103). Indeed. One hopes that in the new year, more people might come to question the conventional wisdom of market-as-god, and understand that in a democratic society, we may do what the majority wishes, but we also protect ourselves against the massive invisible hand of the majority. It would certainly be more competitive to open up individual liberties and protections to the whims of the market, but I think capitalism has demonstrated that beyond a certain point, such practices lead to greater and more inequalities rather than lesser and fewer. In the new year, I think I’ll opt for a more hopeful perspective.

Zeugma investigated candles last night, and I’m afraid her whiskers are a little shorter this year, but she’s otherwise fine. Hope your New Year’s was better.

And, yes, I’m back, and looking forward to being here on a much more regular basis. Happy 2004.

This entry was posted on Thursday, January 1st, 2004 at 8:48 pm and is filed under Education. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.