Glossary

Centralism

The concentration of the greatest possible number of means of decision and control into the smallest number of organizational entities.

Economic Liberalism

Economic Liberalism, also called, Free-Market Capitalism, is the application of the general rule of private enterprise ownership under the constraint—established by the legislature and upheld by other market authorities—of sufficient competition to ensure price regulation, and more broadly, the comparability of market offerings.

As with political liberalism, the opposite of economic liberalism is centralism.

Economism

Economism is the interpretive framework that privileges economic methodologies and theories above all others in explaining human behavior. More precisely, within the framework of onto-political-economics, economism manifests as:

• The subordination of social life to the imperatives of production relations and commodity exchange — a configuration that echoes Marx’s fundamental thesis on the social constitution of value.
• The reduction of all human agency to a utilitarian calculus of maximizing pleasure and minimizing pain—a premise rooted in the neoclassical tradition, from Jevons onward.

Through a boundless extension of the field of economics, economism strips the science of economics of its specific object. Economism is to economic science and policy what scientism is to science and moralism is to morality.