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The free market ideology as a ceremonial feature in latin american

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Listed:
  • William R. Baca Mejía
  • Sarah M. Walsh Rone

Abstract

This paper offers an explanation on how the free market ideology gives rise to the social distinction of being considered a follower of democracy, but with the purpose of being admired from the social viewpoint. This only enhances the ceremonial feature of being a democracy follower. This habit of thought inculcated by the establishment supports pecuniary behaviors submerged in the state, and resigns excluded people to the apparently idea there is not alternatives for change. Understanding that the social process is complex continuously evolving, we propose several and basic elements to explain the negative influence of the establishment under its free market ideological discourse.

Suggested Citation

  • William R. Baca Mejía & Sarah M. Walsh Rone, 2017. "The free market ideology as a ceremonial feature in latin american," Revista de Economía del Caribe 17158, Universidad del Norte.
    • Handle: RePEc:col:000382:017158
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    File URL: http://rcientificas.uninorte.edu.co/index.php/economia/article/view/7866/html_404
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    References listed on IDEAS

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    4. Christian Manuel Posso Suárez, 2010. "Incrementos del Salario Mínimo Legal: un Análisis de los Costos y Beneficios sobre los Hogares colombianos en el año 2006," Borradores de Economia 6890, Banco de la Republica.
    5. Goldin, Claudia & Sokoloff, Kenneth, 1982. "Women, Children, and Industrialization in the Early Republic: Evidence from the Manufacturing Censuses," The Journal of Economic History, Cambridge University Press, vol. 42(4), pages 741-774, December.
    6. Arango-Thomas, Luis Eduardo & Ardila, Luz Karine & Gómez, Miguel Ignacio, 2011. "Efecto del cambio del salario mínimo en el precio de las comidas fuera del hogar en Colombia," Chapters, in: López Enciso, Enrique & Ramírez Giraldo, María Teresa (ed.), Formación de precios y salarios en Colombia T.2, volume 2, chapter 21, pages 873-918, Banco de la Republica de Colombia.
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    More about this item

    Keywords

    free market; ideology; ceremonial; establishment; institutional change;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects

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