Reasserting Institutionalist Insights on the Good Society: 30 Years After Petr’s Call for a Mixed Economy

Abstract:

In this research note, I revisit the issues raised by Jerry Petr (1987) in “The Nature and Necessity of the Mixed Economy.” The institutionalist mixed economy is still a sound model for the good society. However, Western industrialized countries have been losing ground on the goals of the mixed economy. The struggle to defend pragmatism over ideological attachment to neoliberalism, has evolved into a distributional struggle that cannot be resolved without institutional change.

Keywords::

• mixed economy
• neoliberalism
• pragmatism
• vested interests
• good society

JEL Classification Codes::

• P47
• P48

Notes

¹ Although the Children’s Health Insurance Program receives bipartisan support, funding ran out in September and, unless Congress acts, families will not have insurance starting January of 2018 (Kaiser Family Foundation 2017a).

Additional information

Notes on contributors

Barbara E. Hopkins

Barbara E. Hopkins is an associate professor at Wright State University in Dayton, Ohio. Originally presented at AFEE, ASSA, Philadelphia, PA, January 2018.