Jamal Awil

← The Morals of the Market

It is a spanner in the well-oiled market machine. [definitional]

The reliance of the immanent laws of the market on extra-economic violence and the imposition of a moral code is clear even in relation to the most technical of areas: the Chicago Boys' remedies for inflation. From the Chicago perspective, inflation is not merely one problem among others; it is a spanner in the well-oiled market machine. For price signals and market sovereignty to replace human direction in shaping human behaviour, price stability is essential.

Jessica Whyte, The Morals of the Market, loc. 336