자유주의 정치경제학의 과제

This paper raises the questions why we have not overcome neoliberalism yet, even after so many faults of neoliberal political economic policies, including severe income inequality, have been revealed, and what are the most significant underlying problems of neoliberal political economy. The paper refers to Adam Smiths Wealth of Nations, and argues that it is not convincing that Smiths free market theory can be exactly applied to the current 21st century capitalism, as neoliberalism argues. On the contrary to neoliberalism, Smiths idea shows that market competition should be fair and free from all kinds of privileges of big capitals. On the other hand, the practice of neoliberal political economy often ends up with tilted market, advantageous to big capitals, under the surface of free market. The paper also argues that we should break the economism and determinism of free market myth, which is the essence of neoliberalism. This idea comes from Karl Polanyis Great Transformation, in which Polanyi argues the 19st century civilization was firmly based on the myth of self-regulating market. In conclusion, the paper argues that in order to explore the new direction of liberal political economy, we should abolish free market myth, and economism and reconsider the proper relation between state and market.