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Retrospectives: Consumer Sovereignty

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  • Joseph Persky

Abstract

The term "consumer sovereignty" is usually traced to William Harold Hutt and his 1936 book Economists and the Public: A Study of Competition and Opinion. Hutt paid only passing attention to the maximization of consumer welfare or the achievement of market efficiency. He was stalking different game. For him, the basic issues revolved around the exercise of power in a free society and those issues concerned sovereignty. Why should consumers be given such great power in determining the allocation of resources and the course of production? Hutt's major argument for consumer sovereignty centered on its role in promoting political and social stability. It is unlikely that Hutt's defense of consumer sovereignty will be embraced by the economics profession in the near future. It received only passing attention when first propounded and has largely disappeared from active discussion. Yet I would argue that his approach has a most interesting message.

Suggested Citation

  • Joseph Persky, 1993. "Retrospectives: Consumer Sovereignty," Journal of Economic Perspectives, American Economic Association, vol. 7(1), pages 183-191, Winter.
    • Handle: RePEc:aea:jecper:v:7:y:1993:i:1:p:183-91
    Note: DOI: 10.1257/jep.7.1.183
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.7.1.183
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    References listed on IDEAS

    as
    1. Gintis, Herbert, 1972. "Consumer Behavior and the Concept of Sovereignty: Explanations of Social Decay," American Economic Review, American Economic Association, vol. 62(2), pages 267-278, May.
    2. H. Hutt, 1934. "Economic Method And The Concept Of Competition," South African Journal of Economics, Economic Society of South Africa, vol. 2(1), pages 3-23, March.
    3. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
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    Cited by:

    1. Christoph March & Ina Schieferdecker, 2021. "Technological Sovereignty as Ability, Not Autarky," CESifo Working Paper Series 9139, CESifo.
    2. Clément, Valérie & Moureau, Nathalie & Vidal, Marion, 2009. "À la recherche des biens sous tutelle," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(4), pages 383-401, décembre.
    3. Fellner, Wolfgang & Spash, Clive L., 2014. "The Illusion of Consumer Sovereignity in Economic and Neoliberal Thought," SRE-Discussion Papers 2014/02, WU Vienna University of Economics and Business.
    4. Alexandre Chirat, 2022. "Consumer sovereignty in the digital society," EconomiX Working Papers 2022-25, University of Paris Nanterre, EconomiX.
    5. Vahabi,Mehrdad, 2019. "The Political Economy of Predation," Cambridge Books, Cambridge University Press, number 9781107591370, September.
    6. Elodie Brahic & Valérie Clément & Nathalie Moureau & Marion Vidal, 2008. "A la recherche des Merit Goods," Working Papers 08-08, LAMETA, Universtiy of Montpellier, revised Jun 2008.
    7. Christian Schubert & Andreas Chai, 2012. "Sustainable Consumption and Consumer Sovereignty," Papers on Economics and Evolution 2012-14, Philipps University Marburg, Department of Geography.

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    More about this item

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • D10 - Microeconomics - - Household Behavior - - - General

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