Socialism, knowledge, the instrumental valuation principle and the enhancement of individual dignity

Cumbers, A. and McMaster, R. (2010) Socialism, knowledge, the instrumental valuation principle and the enhancement of individual dignity. Economy and Society, 39(2), pp. 247-270. (doi:10.1080/03085141003620162)

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Publisher's URL: http://dx.doi.org/10.1080/03085141003620162

Abstract

Socialism is frequently associated with central planning, public ownership, anathema to markets and the emasculation of the individual. Recent market socialist contributions attempt to overcome socialism's seeming resistance to markets. However, such contributions are frequently undermined by Hayek's invocation of fragmented knowledge. This article endeavours to contribute to a broadly conceived socialism that is not grounded in a particular array of institutions, but one which, via the instrumental valuation principle, the capabilities approach and Dewey's conceptualization of knowledge, offers the prospect of enhancing individual dignity. The instrumental valuation principle is viewed as key to socialism's engagement with dignity as it provides the framework for the enhancement of egalitarianism, democracy and the undermining of invidious institutional arrangements.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Cumbers, Professor Andrew and McMaster, Professor Robert
Authors: Cumbers, A., and McMaster, R.
College/School:College of Social Sciences > Adam Smith Business School > Management
Journal Name:Economy and Society
ISSN:0308-5147

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