Stigler argued markets and intellectual inquiry share identical organizing principles.

Evidence

If bringing the good deeds of businesspeople to the attention of intellectuals was insufficient to convince them to reexamine their attitudes, then perhaps closer scrutiny of the deep similarities between the marketplace and the intellectual world would do the trick: “The organizing principles of [the marketplace and intellectual world] are the same … Just as real markets have some fraud and monopoly, which impair the claims for the marketplace, so the intellectual world has its instances of coercion and deception, with the coercion exercised by claques and fashion. But again these deviants are outside the logic of the system.” — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 119

Categorization

• DEFINE: Distinguishes Stigler’s ‘marketplace of ideas’ logic where fraud and monopoly are deemed external deviants, not internal failures.
• XREF: connects to: Stigler held that science and markets work by the same organizing principles — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 119

Broader Connections

• Stigler held that science and markets work by the same organizing principles #corroborates (1.00) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 119