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Like Classical Liberals, Modern Liberals view individual autonomy as essential to guaranteeing both human dignity and a thriving economy; however, they also defend substantial equality as necessary for all persons to develop their capacities fully. Although Modern Liberals recognize potential conflicts between the values of individualism and equality, they remain confident that the two values can reinforce each other when the powers of government and the market are appropriately balanced. The next four chapters examine each of these contending perspectives separately, seeking to develop an understanding of the value commitments underlying much of the controversy in political economy.

Lindblom. Politics, Economics, and Welfare. New York: Harper 6c Row, 1953. Etzioni, Amitai. The Moral Dimension: Toward a New Economics. New York: Free Press, 1988. Heilbroner, Robert. Behind the Veil of Economics. New York: W. W. Norton, 1988. Hirschman, Albert O. Rival Views of Market Society. New York: Viking Press, 1986. Kuttner, Robert. Everything For Sale: The Virtues and Limits of Markets. New York: Alfred A. Knopf, 1997. Lane, Robert. The Market Experience. Cambridge: Cambridge University Press, 1991.

Oslo: Norwegian University Press, 1988. Lowe, Adolph. Essays in Political Economics: Public Control in a Democratic Society. New York: New York University Press, 1987. , and Kenneth Lux. Humanistic Economics: The New Challenge. New York: Bootstrap Press, 1988. Wolf, Charles, Jr. Markets or Governments: Choosing Between Imperfect Alternatives. Cambridge: MIT Press, 1988. This page intentionally left blank Chapter 2 The History of Political Economy A study of the history of opinion is a necessary preliminary to the emancipation of the mind.

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