Technocrats define economic freedom as the protection of savers, not of the majority

Evidence

Once people were removed from the decisionmaking process, the models of pure economics could reassert the primacy of the market, letting it function as it should— i.e., unabated and free from worker demands. In their view, economic freedom was more important than political freedom— especially the political freedom to manage the economy democratically. In fact, these economists understood economic freedom not in the Gramscian sense, where economic freedom meant emancipating the majority from exploitation (as detailed in chapter 4), but rather as the protection of the savingandinvesting minority and the unfettered free market in which this minority operated. In other words, economic freedom meant the operation of capital accumulation, which required the economic coercion inherent to wage relations and thus the unfreedom of the popular classes. Th e technocrats’ conception of economic freedom was indeed incompatible with any empowerment of the majority. — Clara E. Mattei, The Capital Order, 1586

Categorization

• DEFINE: Clarifies the technocratic inversion of the term ‘economic freedom’ relative to Gramsci’s emancipatory use.
• XREF: Ties to Gramsci’s concept of economic freedom discussed in chapter 4 of this same book. — connects to: Neoliberal ‘economic rights’ protect capital’s market freedom, not welfare entitlements. — Jessica Whyte, The Morals of the Market: Human Rights…, 430; Neoliberal ‘freedom’ is internally redefined to mean market autonomy, not political liberty — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 166; The saver-investor ideal is structurally unavailable to most people — Clara E. Mattei, Escape from Capitalism: An Intervention, 34

Broader Connections

• Neoliberal ‘economic rights’ protect capital’s market freedom, not welfare entitlements. #expands (0.85) — Jessica Whyte, The Morals of the Market, 430
• Neoliberal ‘freedom’ is internally redefined to mean market autonomy, not political liberty #expands (0.85) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 166
• The saver-investor ideal is structurally unavailable to most people #expands (0.80) — Clara E. Mattei, Escape from Capitalism, 34