The Renaissance of Natural Law Cosmology: Free Markets and Fettered Minds

Abstract

In recent years, in the partial vacuum left by the apparent inadequacy of Keynesian economics, there has been a renaissance of natural law cosmology. Accordingly, the social world is again viewed through pre‐Keynesian spectacles as ideally self‐adjusting through the action of the free market. Although the re‐emergence of this outmoded ideology is reactionary, it has been salutary in checking the hubris of the positivistic and technocratic Keynesian fine tuners. The purpose of this article is to trace this revival of natural law cosmology and assess the challenge this ideological reversal poses to the prospects for the evolution of a “social economics”.

Citation

Wisman, J.D. (1986), "The Renaissance of Natural Law Cosmology: Free Markets and Fettered Minds", International Journal of Social Economics, Vol. 13 No. 10, pp. 26-37. https://doi.org/10.1108/eb014028