I wouldn't turn to economists or economics to address problems of life satisfaction. Therein lies the problem. Our society is obsessed with economic goals and that is how governments are largely judged. But much of what really matters is outside the realm of economics - or ought to be. Markets should be restricted to what they do well, and it needs to be recognized that what they do well is very limited and has nothing to do with fulfillment except in the most material and basic of definitions. Trying to contruct a society around markets undermines our concept of value until it becomes nothing but price. We end up knowing the price of everything and the value of nothing. Everything that cannot be priced essentially becomes worthless - and most of what we truly 'value' has no price because it cannot be bought and sold. We end up with a society where all that most matters is ignored, downgraded or deprioritised. Which is exactly where we are now.
"For me, haggling is (at best) embarrassing. At worst, it's humiliating. It's always exhausting. But for my agents, it's invigorating. (...)
These haggler types do very well in our society, which is organized around the idea of efficient markets, where everyone is always bargaining to the last breath in order to "maximize their utility."
This ideology isn't just an observation ("society is a market"), it's also a demand ("society should be a market"). People who find aggressive haggling invigorating have taken over the operations of our civilization, and they are determined to convert everything to a marketplace, from waiting on hold for the IRS to looking for a parking place".
yes. it's not necessarily haggling - my brother just adores researching options and locating the best deal. I like searching for places to eat in unfamiliar places and would hate an all inclusive holiday. This doesn't really weaken the argument, we all contains multitudes and most of us probably have aspects of our lives where choice is a burden.
I suppose none of us like haggling all the time, which is what the neoliberal crowd wants us to do. A little haggling is fun, filling one's day with is it boring. And expensive – see Ronald Coase.
I wouldn't turn to economists or economics to address problems of life satisfaction. Therein lies the problem. Our society is obsessed with economic goals and that is how governments are largely judged. But much of what really matters is outside the realm of economics - or ought to be. Markets should be restricted to what they do well, and it needs to be recognized that what they do well is very limited and has nothing to do with fulfillment except in the most material and basic of definitions. Trying to contruct a society around markets undermines our concept of value until it becomes nothing but price. We end up knowing the price of everything and the value of nothing. Everything that cannot be priced essentially becomes worthless - and most of what we truly 'value' has no price because it cannot be bought and sold. We end up with a society where all that most matters is ignored, downgraded or deprioritised. Which is exactly where we are now.
As Cory Doctorow said in a wonderful essay: markets are a paradise for the born hagglers but a nuisance for all others: https://pluralistic.net/2026/03/30/players-of-games/
"For me, haggling is (at best) embarrassing. At worst, it's humiliating. It's always exhausting. But for my agents, it's invigorating. (...)
These haggler types do very well in our society, which is organized around the idea of efficient markets, where everyone is always bargaining to the last breath in order to "maximize their utility."
This ideology isn't just an observation ("society is a market"), it's also a demand ("society should be a market"). People who find aggressive haggling invigorating have taken over the operations of our civilization, and they are determined to convert everything to a marketplace, from waiting on hold for the IRS to looking for a parking place".
I would also like to highlight another essay by Doctorow, one that touches on one of Chris’s favourite theses: that austerity breeds fascism. See https://pluralistic.net/2026/04/12/always-great/#our-nhs
yes. it's not necessarily haggling - my brother just adores researching options and locating the best deal. I like searching for places to eat in unfamiliar places and would hate an all inclusive holiday. This doesn't really weaken the argument, we all contains multitudes and most of us probably have aspects of our lives where choice is a burden.
I suppose none of us like haggling all the time, which is what the neoliberal crowd wants us to do. A little haggling is fun, filling one's day with is it boring. And expensive – see Ronald Coase.
"It’s far from clear that 21st century capitalism has these."
Has any century of capitalism had them?