The Social Crisis of our Time

Roepke, W.; Campbell, W. F.; Kirk, Russell

doi:10.4324/9781315134963

Cited by 12 publications

(8 citation statements)

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“…Foucault explains that, "The enterprise society imagined by the Ordo-liberals is therefore a society for the market and a society against the market, a society oriented towards the market and a society that compensates for the effects of the market in the realm of values and existence." (p. 242) Thus, Foucault, quoting phrases fromRöpke (1952), argues that there is a political and moral framework to Ordo-liberalism: "This political and moral framework must ensure 'a community which is not fragmented,' and guarantee cooperation between men who are 'naturally rooted and socially integrated'" (p. 243).…”

mentioning

confidence: 99%

Social impact bonds: The securitization of the homeless

Cooper

Graham²,

Himick

2016

Accounting, Organizations and Society

170

166

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This paper examines the recent phenomenon of social impact bonds (SIBs). Social impact bonds are an attempt to marketize/financialize certain contemporary, intractable "social problems", such as homelessness and criminal recidivism. SIBs rely on a vast array of accounting technologies including budgets, future cash flows, discounting, performance measurement and auditing. As such, they represent a potentially powerful and problematic use of accounting to enact government policy. This paper contains a case study of the most recent in a series of SIBs, the London Homelessness SIB, focusing on St Mungo's, a London-based charitable foundation that was one of two service providers (charities) funded by the SIB. The case study is intended to enable a critical reflection on the rationalities that underpin the SIB. For this purpose, the paper draws upon Michel Foucault's work on biopolitics and neoliberalism. The SIB is thoroughly neoliberal in that it is constructed upon an assumption that there is no such thing as a social problem, only individuals who fail. The SIB transforms all participants in the bond, except perhaps the homeless themselves, into entrepreneurs. The homeless are instead "failed entrepreneurs" who become securitised into the potential future cash flows of investors.

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confidence: 99%

Social impact bonds: The securitization of the homeless

Cooper

Graham²,

Himick

2016

Accounting, Organizations and Society

170

166

View full text Add to dashboard Cite

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“…Practical experiences with a very concrete loss of freedom led to deeper reflections on the prerequisites of an economic and social order that reliably would prevent such deprivations in the future. To achieve that aim required extending the realm of analysis from merely economic topics to broader issues, as is evident from the titles of their publications at the time-The Social Crisis of our Time (Röpke 1947b), Civitas humana (Röpke [1944(Röpke [ ] 1979 or Freedom and Domination-a Historical Critique of Contemporary Civilization (Rüstow [1980] 2014) 4 do not sound like titles of economics textbooks, and that certainly was not what they were.…”

Section: The Fight For Freedom In Response To the Tyranny Of The Nazimentioning

confidence: 99%

Contextual liberalism: the ordoliberal approach to private vices and public benefits

2021

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This article highlights the various sources that shaped the genesis of ordoliberalism. In the wake of the emerging project of neoliberalism, ordoliberals created a theory that contains a bundle of claims, which constitute the attempt to merge liberalism and its contextual embedding into a social philosophy that meets the requirements of both—economy and society. They were concerned with a new and properly interpreted liberalism. Not because they did not share the basic assumption of classical liberalism that individual self-interested action is the necessary driving force in advancing economic and social progress, but because they realized that individual action requires an embedding into a social and moral order to deliver public benefits. This insight proves to be the significant difference between ordoliberals of neoliberal facon and the exponents of classical liberalism: namely that the market economy operates based on prerequisites which it cannot itself guarantee. Regarding their very own historical context, this must be seen in light of their concern for the reconstruction of Western societies after the end of the totalitarian Nazi regime. The purpose of ordoliberalism has always been the “consciously shaped” economic order which manifests itself as humane and as functional. Moreover, if one understands ordoliberalism as contextual liberalism, it can also be significant for today’s discourse. In order to achieve this aspiration, ordoliberalism adopts a contextual approach. In particular, linkages can be drawn here to Constitutional Political Economy, and the interaction of these perspectives offer promising benefits for both “thinking-in-orders” traditions.

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“…As ethical and social constraints on illicit behaviour erode, we may expect to see relatively more illicit activity (Mazar et al, 2008) and relatively less efficient markets (Zak, 2011). Ultimately, the over-reliance on markets in social transactions (of which criminal justice outsourcing is just one symptom) is itself socially destructive (Röpke, 1952) and criminogenic (Reiner, 2007). Such reliance is neither approved by, nor in the interests of, the people of England and Wales.…”

Section: The Moral Impact Of Marketisationmentioning

confidence: 99%