Here's a rather specific question, building on our discussion of "embedded liberalism" in class on Tuesday:
Suppose for a moment that the options for organizing a political-economic system are only two, embedded liberalism and disembedded liberalism, which is to say, a market system in which the market serves non-market social purposes or a market system in which the market is as unfettered as possible and serves only its own goals of economic efficiency. Knowing what you now know about the institutional and political requisites and consequences of each system, which system would you rather have? Why?
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